December January February March April May

July August September October November

Issue No.9 09 August 2009

Highlights

- First quarterly review of India’s Monetary Policy

- Finance Minister sees early signs of recovery

- Economy to grow at 6.7%: FM

- Core growth up 6.5%

- Overseas Indians sent home $52 billion in 2008

- FIIs invested over US$ 6 billion during January-July 2009

- Foreign investors return to India: Moody’s

- Indian media industry to outshine global peers

- Recession-hit exporters get incentives

- RBI allows SEZ developers to raise overseas loans

- 15 Highway projects cleared

- NRIs and FIIs can invest in Indian Depository Receipts

First quarterly review of India’s Monetary Policy

On 27 July, Reserve Bank of India Governor D. Subbarao presented an update on India’s monetary policy for the first quarter of this fiscal (2009-2010). In his presentation, he said that the Indian economy experienced a significant slowdown in 2008-09, in comparison with the robust growth performance in the preceding five years, largely due to the knock-on effect of the global financial crisis. India’s exports contracted during eight straight months which, in turn, impacted the industrial sector and the services sector. The financial sector, however, remained relatively unaffected despite the severe stress created by the global deleveraging process, which triggered capital outflows in the second half of 2008-09.

Quick and aggressive policy responses both by the Government and the Reserve Bank mitigated the impact of the global financial crisis. The large domestic demand bolstered by the government consumption, provision of forex and rupee liquidity coupled with sharp cuts in policy rates, a sound banking sector and well-functioning financial markets helped cushion the economy from the worst impact of the crisis. There are now progressive signs of recovery in India: food stocks have increased; industrial production has turned positive; corporate performance has improved; business confidence surveys are optimistic; leading indicators show an upturn; interest rates have declined; credit off-take has picked up after May 2009; stock prices have rebounded; the primary capital market has witnessed some activity; and external financing conditions have improved. On the other hand, there are some negative signs: delayed and deficient monsoon; food price inflation; rebound in global commodity prices; continuing weak external demand; and high fiscal deficit. 

The main highlights of the update are:

* Bank rate retained at 6 per cent

* Repo rate unchanged at 4.75 per cent

* Reverse repo rate unchanged at 3.25 per cent

* Cash reserve ratio unchanged at 5 per cent

* Statutory liquidity ratio unchanged at 24 per cent

* Inflation forecast hiked to 5 percent from 4 per cent

* Negative inflation only a statistical phenomenon

* Balance between liquidity and inflation main concern

* India's growth now forecast at 6 per cent with upward bias

* More scope for cutting rates by commercial banks

* Money supply may grow 18 per cent this fiscal

* Policy will ensure enough commercial credit

According to the Reserve Bank, the GDP growth for 2009-10 based on current assessment is projected at 6 per cent with an upward bias. It was stated that there are several immediate and medium term challenges facing the economy, namely:

· The first challenge is to manage the balance between the short-term compulsions of providing ample liquidity and the potential build-up of inflationary pressure on the way forward by maintaining the accommodative monetary stance till demand conditions further improve and credit flow takes hold. But we need to be ready with a roadmap to reverse the expansionary stance quickly and effectively thereafter.

· The second challenge is to manage the Government’s large borrowing programme without crowding out present or potential private credit demand. Despite active liquidity management by the Reserve Bank, the large and abrupt increase in government borrowing has resulted in hardening of yields which clearly militated against the low interest rate regime that the economy requires in the current situation.

· The third challenge is to maintain policy rates and liquidity conditions conducive for spurring private investment demand, which has been dented by the crisis.

· The fourth challenge is to restore the fiscal consolidation process by laying down the road map. Large fiscal deficits, if continued strictly beyond the recovery period, can crowd out private investment and trigger inflationary pressures. The large government borrowing has already led to hardening of yields which have impeded monetary transmission. The Government will, therefore, need to return to a path of fiscal consolidation which will lend credibility to the fiscal stance and also give predictability to economic agents. It is also necessary to focus on the quality of fiscal adjustment even while pursuing quantitative targets.

· Finally, a big medium-term challenge is to improve the investment climate and expand the absorptive capacity of the economy by (i) moving forward with financial sector reforms to promote financial inclusion, further widen and deepen financial markets and strengthen financial institutions while factoring in the lessons of the global economic crisis; and (ii) giving a big thrust to governance reforms, without which it is difficult to inspire the trust and confidence of potential investors

The Bank reiterated that it will maintain an accommodative monetary stance until there are definite and robust signs of recovery.

Finance Minister sees early signs of recovery

On 14 July, in a debate on the general Budget to outline the government’s reform agenda, Finance Minister Pranab Mukherjee said the government will push through its disinvestment programme, cut the fiscal deficit to 5.5% by next year and create the necessary policy environment—including reforms—in the financial sector. “We all know that the global financial crisis did not affect Indian banks or financial market directly. But it did expose a number of weaknesses in our financial system,” was the minister’s candid acknowledgement in Parliament.

Elaborating on the UPA government’s disinvestment policy, he said, “The President’s address had clearly spelt out the policy of the government on disinvestments--the government would develop people-ownership of public undertakings while ensuring that government equity does not fall below 51% and the government retains management control of the company.”

The Finance Ministry has already begun discussions with other ministries and departments to identify PSUs where the government can divest a portion of its stake or issue fresh equity to meet their fund requirements. “The details are being worked out and would be announced in due course,” FM said, adding that this would “enable the PSUs to benefit from techno-managerial efficiencies and become more competitive”.

Finance Minister did not say if disinvestment proceeds would be used to bridge the fiscal deficit. But he assured Parliament that the fiscal deficit would come down from 6.8% of GDP in 2009-10 to 5.5% in 2010-11 and further to 4% by 2011-12. “Much of our recent success in raising our growth trajectory has come about due to adherence to the Fiscal Responsibility and Budget Management (FRBM) targets, both at the central and state levels. Fiscal prudence is critical for maintaining stable balance of payments, moderate interest rates and steady flow of external capital for corporate investment,” he said.

On financial sector reforms, FM said the UPA government would “create the necessary policy” to address weaknesses. He said this was necessary to counter the volatile nature of FII equity and private capital that created a negative impact on investment decisions.

The minister also added that the government has no intention of monetising its debt because the borrowing was being supported by RBI through its open market operations. He also dispelled fears that higher government borrowings would crowd out the private sector and increase the cost of borrowings.

Economy to grow at 6.7%: FM

Speaking in the Rajya Sabha (Upper House) on 29 July, Finance Minister said the economy was expected to maintain a growth rate of 6.7% per, the same as the last fiscal, as some signs of pick up were visible. He expressed the hope that the stimulus, both in terms of financial concessions, fiscal policy and the monetary measures announced by the Reserve Bank of India will have its desired impact. He further added that although some signs of recovery were visible, it was too early to point out whether they would be steady.

Core growth up 6.5%

The six core infrastructure industries comprising coal, crude oil, refining, power, cement and finished steel grew 6.5 per cent in June on the back of robust performance by cement and steel compared to 5.1% growth a year ago. Commerce and Industry Minister Anand Sharma commented that it is clear that the government’s stimulus packages and the budgetary proposals have had a positive impact. In the past three months, the industrial growth is improving and the government wants to ensure that this recovery continues and India returns firmly on the high growth trajectory. In fact, coal and cement have registered a double digit growth.

Overseas Indians sent home $52 billion in 2008

According to a World Bank update, homeward remittances by overseas Indians registered a sharp increase of 15% in 2008 despite a dismal global economic scenario in the last quarter. This was higher than the projected inflow of remittances of $ 45 billion making it India’s largest source of foreign exchange leaving software exports in second position at $ 47 billion. India retained its top position as one of the top recipients of migrant remittances among developing countries in 2008.

FIIs invested over US$ 6 billion during January-July 2009

The Securities and Exchange Board of India (SEBI) announced that foreign institutional investors (FIIs) have invested over US$ 6 billion during January-July 2009 with over US$ 1 billion coming in July 2009 only. This shows FIIs confidence in the Indian markets.

Foreign investors return to India: Moody’s

According to the global rating agency Moody’s, India and China will again emerge as the preferred destination for foreign investors. India is expected to record gradual recovery in FDI inflows in coming months, especially since the Indian authorities are keen to promote public-private partnerships in supporting growth initiatives. Net capital inflows in the stock market have been rising at a solid pace which is a clear sign of improvement in investor appetite, said the agency. However, Indian rupee is expected to gradually regain strength in coming months.

Indian media industry to outshine global peers

According to a report, the Indian entertainment and media industry is expected to grow at a compound rate of growth (CAGR) of 10.5% between 2009-2013 compared to the global rate of 2.7% for the same period. The television industry is projected to be the major contributor in this growth with television distribution estimated to capture a share of 60% in 2013 and television advertising a share of around 40%. The film industry is projected to witness a CAGR of 11.6% over the coming five years touching $ 3.7 billion from the present $ 3.24 billion. However, the print industry is projected to grow by 5.6% during the same period touching $ 4.26 billion in 2013 from $3.24 billion in 2008.

Recession-hit exporters get incentives

Seeking to address the problems being faced by the exporting community due to continued global slowdown and recession especially in the U.S. and European Union markets, Union Finance Minister Pranab Mukherjee came out with a ‘package of sops’ for exporters including extension of tax holiday for one more year for export oriented units (EOUs), software technology parks (STPs) and electronic hardware technology parks (EHTPs) and extension of the interest subvention scheme till March 2010.

The Government announced extension of the time period for two per cent interest subsidy and insurance cover up to March 2010, besides raising the market development assistance allocation. The interest subvention on pre-shipment credit for seven sectors, including handlooms, handicrafts, carpets, leather, gems and jewellery, marine products as also the small and medium exporters will now be available till March 31, 2010.

The allocation for Market Development Assistance scheme has been enhanced for the current fiscal by 148 per cent over 2008-09 to Rs. 124 crore. The adjustment assistance scheme of the Export Credit Guarantee Corporation (ECGC), which covers 95 per cent of the badly hit sectors, was extended till March 2010. The government had earlier announced Rs. 350 crore scheme for the Export Credit Guarantee Corporation (ECGC), which expires on June 30.

ECGC provides a range of credit risk insurance covers to exporters against loss in export of goods and services. It also guarantees to banks and financial institutions to enable exporters to obtain better facilities from them. ``I propose to extend the interest subvention beyond the current deadline of September 2009 to March 31, 2010”, Mr. Mukherjee said. He further stated that to support the micro, small and medium enterprises sector, which was affected by the slowdown in exports, the government would facilitate the flow of credit at reasonable rates, by providing a special fund out of Rural Infrastructure Development Fund to the Small Industries Development Bank. “This fund of Rs. 40,000 crore will incentivise banks and state finance corporations to lend micro and small enterprises (MSEs) by refinancing 50 per cent of incremental lending to MSEs during the current financial year,” he said.

Education sector to open for foreign, private institutions

On July 9, 2009, Human Resource Development Minister Kapil Sibal, speaking at the plenary session of the World Conference on Higher Education at the UNESCO headquarters in Paris, reiterated the UPA government’s keenness to open up the education sector to foreign education providers and private players.

Mr Sibal stressed on three historic realities which impact the need for investments in quality higher education around the world. The first being that cross border manufacturing processes and global transactions in services sector have created a demand for higher education not only of “national quality” but also which helps further this process of globalized economy. The second important development has been the technological revolution opening the doors of cross border education particularly in distance mode, with possibilities of virtual universities providing quality education at reasonable costs. The third important development affecting our globe is the awareness and the need for action on global warming and climate change. Education, particularly higher education, must inculcate the values of sustainable development in the minds of our youth, the minister said.

In an earlier statement in the Parliament, he said the huge gaps in access to higher education between regions and countries need to be narrowed which is not possible without the participation of private sector investments as the public institutions cannot keep pace with the rising demand of higher education in the country. However, he warned: “We have to be mindful of the risks involved regarding the entry of ‘diploma mills’ and unscrupulous for-profit providers.

Rs. 120 crore (US$ 25 million) outlay for unique ID project

On 6 July, Finance Minister Pranab Mukherjee, setting the stage for implementation of the ambitious National ID Card project, said that the first set of unique identity numbers would be rolled in 12-18 months. A provision of Rs. 120 crore has been proposed for the project. This announcement was made just days after Mr. Nandan Nilekani was appointed by the government to spearhead the Unique Identification Authority of India in June 2009. The setting up of the Unique Identification Authority of India (UIDAI) is a major step in improving governance with regard to delivery of public services. The UIDAI will set up an online data base with identity and biometric details of Indian residents and provide enrolment and verification services across the country,” the Finance Minister said.

RBI allows SEZ developers to raise overseas loans

The Reserve Bank of India has allowed the special economic zone developers to raise overseas loans and also extended the permission to integrated township developers to access the external commercial borrowings window till December 2009.

15 Highway projects cleared

In a meeting of the Public-Private Partnership Appraisal Committee (PPPAC) chaired by the Finance Secretary, 15 highway projects worth Rs. 15,506.5 crore (US$ 3.22 billion) of the Ministry of Road Transport and Highways were approved.

NRIs and FIIs can invest in Indian Depository Receipts

The Reserve Bank of India, according to its operational guidelines, has allowed foreign institutional investors (FIIs) and the Non-resident Indians (NRIs) to invest in Indian Depository Receipts.

Events

A Memorandum of Understanding was signed between Indian Institute of Crop Processing Technology, Thanjavur and University of Manitoba on 18 July 2009. The MoU will focus mainly on student and faculty exchange programmes for further enhancing the research and development in the agriculture and food processing sector. It was signed by IICPT Director K Alagusundaram and University of Manitoba Vice President (Research) Digvir Jayas in the presence of Minister for Food Processing Industries, Mr. Subodh Kant Sahai.

On 18 July 2009, the Federation of Andhra Pradesh Chambers of Commerce and Industry today signed a memorandum of understanding with the Winnipeg Chamber of Commerce to strengthen its relationship and promote bilateral trade, investment, technology transfer, joint ventures and collaboration. FAPCCI President K Harishchandra Prasad and Winnipeg Chamber of Commerce President and CEO David Angus signed the MoU. The Manitoba delegation was led by MLA and Parliamentary Secretary to Premier (International Trade and Investment), Government of Manitoba, Bidhu Jha and included, among others, Deputy Minister of Finance and Deputy Minister of Federal International Relations for Trade and Investment Diane Gray, Deputy Minister of Science, Technology, Energy and Mines John Clarkson and Winnipeg Chamber of Commerce President and CEO David Angus. There are immense opportunities for Canadian companies in agriculture and agri-food, service industries, infrastructure, information and communications technology, oil and gas, electrical power, aerospace and defence sectors.

On 24 July, the Indian Council of Medical Research (ICMR) and the Canadian Institute of Health Research (CIHR) held a teleconference meeting as mandated under the Memorandum of Understanding signed between the two bodies in January 2005. The meeting was co-chaired by Dr. Lalit Kant, Scientist ‘G’ and Head, E&C Diseases, ICMR and Dr. Alain Beaudet, President, CIHR. During the meeting, the progress made on the ongoing interaction between the two bodies was reviewed which was followed by a detailed discussion on new areas of cooperation such as childhood obesity, perinatal health, and cardiovascular disease and how to expand further collaboration in these areas. Both sides agreed to give priority to the renewal of existing MoU which expires in January 2010 and to continue discussion on areas identified for mutual cooperation.

On 28 July, the second Canada-China-Israel Roundtable on Agri-Innovation was held in Ottawa. The event was organized by the International Science and Technology Partnerships Canada (ISTPCanada) in association with the Agriculture and Agri-Food Canada (AAFP) with the objective to further build on the outcomes of the first meeting on agriculture and agri-food innovation hosted on November 5, 2008 in Yangling, China. The roundtable was attended by senior officials from the Agriculture and Agri-Food Canada and the Department of Foreign Affairs and International Trade and representatives of agriculture industry and institutions. India along with Brazil was also invited as guests to the meeting. They were represented by their respective Head of Mission in Ottawa who also gave presentation at the meeting.

On 5th August, Krishna Group of India and Magna Seating, an operating unit of Ontario-based Magna International Inc., announced the formation of a 50/50 joint venture to produce complete seating systems and seat mechanisms for automakers within the Pune region of India. The joint venture will operate from Chakan and plans to start production within the next year. The project will be called MSKH seating systems. The manufacturing strength and experience in the domestic automotive industry will be provided by the Indian partner and the Canadian partner will bring engineering support to the venture. Magna International’s other operations in India are: Magna Powertrain, Magna Mirrors, Magna Steyr, Magna Closures and Cosma International.

Healthcare – an important sector for Foreign Direct Investment

Healthcare is an important and one of the largest sectors of Indian economy, both in terms of revenue and employment. Rising population, increasing government expenditure on health care sector, growing consciousness of the people regarding their health, attractive health insurance policies etc., are some of the reasons that have made healthcare sector as an important sector for foreign direct investment in India. Expanding rapidly, the healthcare sector in the 90s grew at a compound annual rate of 16 per cent. Currently, the total value of the sector is more than US$ 35 billion and by 2012 India’s healthcare sector is projected to grow to nearly US$ 75 billion and US$ 150 billion by 2017. Healthcare industry is growing at a fast rate of 13 per cent per annum over the past four years.

The healthcare sector offers a tremendous potential for investment to healthcare players. According to a study conducted by the Confederation of Indian Industry (CII), India currently has a capacity of 1.1 million beds and by 2018 Indian needs to add 3.1 million beds which would require an investment of US$ 82 billion.

Health insurance sector is another area for investment. At present, only 10 per cent of India’s population has health insurance. The Indian health insurance business is growing at 50 per cent per annum. The sector is projected to grow to US$ 5.75 billion by 2010.

Medical tourism is another important area of healthcare sector in India. In 2007, India treated 450,000 foreign patients ranking it second in medical tourism. According to a study by McKinsey and the CII, the medical tourism industry could become a US$ 2 billion industry by 2012. This sector is witnessing an annual growth of between 25-20 per cent. The salient features of medical tourism industry in India are: cost effectiveness and its combination with the attractions of tourism; and the presence of world class medical facilities.

The healthcare industry sector consists of government run hospitals, private hospitals and independent health clinics. Private health care centres account 80 per cent share while the government’s share is 20 per cent.

Policy

The Government of India introduced a National Healthy Policy in 2002. The key highlights of this policy are:

- Achieve an acceptable standard of good health amongst the general population of the country.

- Increase access to the decentralized public health system.

- The contribution of the private sector in providing health services would be much enhanced.

- Increased access to tried and tested systems of traditional medicine will be ensured.

To attract investment and facilitate higher growth in the healthcare sector in the country, the Government of India has:

- Announced 100 per cent FDI under the automatic route

- Accorded infrastructure status to the hospitals

- Lowered tariffs on medical equipment

- Announced tax holiday for five years for the hospitals in rural areas.

National Rural Health Mission (NRHM) – 2005-2012

The government launched the NRHM in 2005 with the aim to provide quality healthcare for all and to increase the expenditure on healthcare from 0.9 per cent of GDP to 2-3 per cent of GDP by 2012. The mission adopts a synergistic approach by relating health to determinants of good health viz. segments of nutrition, sanitation, hygiene and safe drinking water. It also aims at mainstreaming the Indian systems of medicine to facilitate health care. The plan of action includes increasing public expenditure on health, reducing regional imbalance in health infrastructure, pooling resources, integration of organizational structures, optimization of health manpower, decentralization and district management of health programmes, community participation and ownership of assets, induction of management and financial personnel into district health system, and operationalizing community health centers into functional hospitals meeting Indian public health standards in each block of the country. During the 2009 Union Budget, the Government has allocated US$ 2.42 billion for NRHM.

Investment Opportunities

The Indian Healthcare Sector offers opportunities for investment in the following areas:

- Medical infrastructure

- Telemedicine

- Medical equipment

- Medical textiles

- Health Insurance

- Clinical Trials

- Health services outsourcing

- Medical value travel

Useful Links

Official website of Ministry of Health and Family Welfare: http://www.mohfw.nic.in

India-Canada Trade

According to the figures available till May 2009, bilateral trade between Indian and Canada stands as follows:

[Figures are in thousand US dollars at current rate]

Details	May 2008	May 2009	% change over same month previous year
India’s Exports	164,510	142,270	(-) 13.50
India’s Imports	141,306	96,225	(-) 31.90

[Source: Statistics Canada]

During May 2009, India’s exports to and imports from Canada showed a decline by 13.50 and 31.90 per cent respectively as compared to same month in 2008. The decline in India’s imports from Canada was considerable (31.90%). However, India’s exports to Canada declined further 3.77 per cent from the previous month whereas India’s exports again showed an increase of 7.70 per cent from April 2009.

Outsourcing of Consular Services

The High Commission of India in Ottawa has outsourced the following consular services to VF Services (Canada) Inc. with effect from 08 May 2009:

- All types of visas except Diplomatic and Official visas;

- New Indian passports;

- Renewal of Indian passports;

- Other passport-related services such as change of name, change of address, etc.

- Person of Indian Origin (PIO) Cards;

- Overseas Citizenship of India (OCI) Cards;

- Registration certificates relating to birth, marriage and death of Indian nationals;

The VF Service Centres in Brampton, Ottawa, Montreal, Toronto and Winnipeg are already operational. VF Service Centres in Calgary, Edmonton, Surrey, and Vancouver will become operational shortly.

Detailed information is available on VF Services (Canada) Inc.’s website: http://in.vfsglobal.ca

H1N1 Swine flu Guidelines

According to a an advisory issued by the Indian Ministry of Health and Family Welfare on H1N1 Swine Flu, health screening of passengers travelling to India from H1N1 affected countries is continuing at 19 airports in India, namely, Ahmedabad, Amrtisar, Bangalore, Calicut, Chennai, Cochin, Coimbatore, Delhi, Goa, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Nagpur, Pune, Srinagar, Trichy and Varanasi. All incoming passengers from affected countries are being subjected to medical screening, and in case of detection of symptoms connected with swine flu, such passengers may be quarantined and hospitalized. Detailed information with regard to the guidelines for testing, home isolation and treatment, daily press releases, list of H1N1 affected countries, fact sheet on H1N1 swine flu, etc. is available on the Ministry of Health and Family Welfare’s website: http://mohfw.nic.in/SWINEFLU.htm

Visits

From India

Mr Malay K. Sinha, Secretary of All India Police Sports Control Board led an Indian Team consisting of 26 members to Vancouver, British Columbia to participate in the 13^th World Police and Fire Games 2009 – 31 July – 9 August 2009. The events included angling, archery, badminton, basketball, bench press, biathlon, body building, bowling, boxing, cross country run, curling, cycling, darts, decathlon, dragon boat, field lacrosse, swimming, judo, karate, pistol events, rifle events, table-tennis, tennis, triathlon, volleyball, wrestling, etc.

From Canada

A business delegation from the Manitoba Province led by Mr. Bidhu Jha, MLA and Parliamentary Secretary to Premier (International Trade and Investment), Government of Manitoba visited India from 10 to 24 July 2009. The delegation included, among others, Deputy Minister of Finance and Deputy Minister of Federal International Relations for Trade and Investment Diane Gray, Deputy Minister of Science, Technology, Energy and Mines John Clarkson and Winnipeg Chamber of Commerce President and CEO David Angus. During the visit, two MoUs were signed – one between the Indian Institute of Crop Processing Technology (IICPT) and University of Manitoba for cooperation in the field of agriculture and food processing sector and the other between the Federation of Andhra Pradesh Chambers of Commerce and Industry and the Winnipeg Chamber of Commerce to strengthen relationship and promote bilateral trade, investment, technology transfer, joint ventures and collaboration.

Forthcoming visits

From India

A Ministerial delegation is scheduled to visit Calgary for holding Road Shows on 24-25 August 2009 as part of the eighth round of New Exploration Licensing Policy (NELP-VIII) and Coal Bed Methane Policy (CBM-IV) with a view to enhance the exploration coverage and produce more oil and gas and CBM in India and also to create the interest of the prospective bidders to invest in these rounds. The delegation will be led by Minister of State for Petroleum and Natural Gas Mr. Jitin Prasad.

The next round of India-Canada Trade Policy Consultations is scheduled to be held in Ottawa in fall, 2009. The delegation of both countries will review the progress made on issues discussed during the last meeting held in New Delhi on 12 September 2008 and explore new areas of cooperation to enhance bilateral trade and commercial relations between the two countries.

Trade Fairs/Exhibitions/Events

“Climate Change: Technology Development and Transfer – 22-23 October 2009 – New Delhi

The Confederation of Indian Industry (CII) in partnership with the Ministry of Environment & Forests, Government of India, is organizing an international exhibition on "Climate Change: Technology Development and Transfer". The exhibition is scheduled to be held on October 22-23, 2009 in Hotel Ashok, New Delhi.

The unique Exhibition is an excellent opportunity for not only developed countries to offer appropriate climate-friendly technologies and services to India and other developing economies, but also for developing countries to showcase effective solutions that result in reduction in emissions of green house gases (GHGs).

The unique Exhibition is an excellent opportunity for not only developed countries to offer appropriate climate-friendly technologies and services to India and other developing economies, but also for developing countries to showcase effective solutions that result in reduction in emissions of green house gases (GHGs).

The exhibition is concurrent with the conference which makes it as an ideal platform for business networking, idea exchange, technology assessment, start of strategic partnerships and business-to-business alliances. Missions and trade delegations are also invited from 50 developed and developing nations to have discussions with interested organizations in the areas of mutual benefit covering policy, community development and technical collaboration.

The exhibition will provide a comprehensive environment to meet the sourcing needs of the industry for the latest in New/Clean Technologies, Renewable Energy Technologies, Greening of India, Biodiversity/Conservation, Green Buildings, Water/Waste Management and many more.

[Complete details are available on CII’s website: www.cii.in]

“Punjab International Trade Expo 2009” (PHD-PITEX 2009) from 2-6 December, 2009 in Amritsar, India.

The Trade Expo aims at promoting international business for the participating countries, providing an opportunity to share the technological innovations among them and exploring new markets for their product. It also offers a unique opportunity for companies from the country to explore possibilities of business promotion and collaboration in the North Indian market as also sell their goods at the Expo. The Expo shall have the following different pavilions:

· International Pavilion

· Travel, tours and handicrafts

· Automobiles

· Mega Brands

· Food and Farms

· Real Estate and Finance

· Home Interiors/Kitchen and Consumer

· Education

· Textile and Garments.

[For further details, please access website: www.phdcci.in ]

“Global Economic Summit on Trade & Investment Opportunities” at World Trade Centre, Mumbai, India from 20-22 January, 2010.

The Global Summit 2010 has many unique features. Apart from Business Sessions on “Investment Opportunities in their Respective Economies”, the Summit is designed to provide a unique platform to overseas businessmen and investors to get a first hand feel as to how the Indian economy is surging ahead and earning a new niche for itself. Similarly, Indian businessmen will have an opportunity to learn about business opportunities in other countries and meet potential overseas partners.

The Summit will cover topics such as:

· Infrastructure (Airports, Roads, ports, Railways)

· Energy (Renewable, Solar & Thermal)

· Technology and Industry (Security, Bio Technology, Scientific Research, Agro and Food Processing)

· Services (Financial, Education and Health Care)

· Investment opportunities in the state of India.

· Trade & Investment opportunities in various countries.

[For further details, please access website: www.wtcmumbai.org]

“25^th India International Leather Fair” from 31 January-3 February, 2010 in Chennai Trade Centre, Nandambakkam, Chennai.

The exhibition will showcase products like Finished Leather; Shoes; Shoe Components-Uppers, Soles, Heels, Counters, Lasts; Leather Garments; Fashion Accessories; Leather Goods-Travel ware, Belts, Gloves, Portfolios, Hand Bags and Wallet; Saddlery and Harness; Machinery and Equipment; Chemicals; Publications and Consultancy Services.

[For further details, please access website: www.iilfleatherfair.com]

“ELECRAMA-2010” from 20-24 January, 2010 in Bombay Exhibition Centre, Mumbai, India.

Elecrama will showcase the best of global technology and world class product development competencies from India with a ringside view of the Indian electrical sector.

Exhibitors profile includes, equipment for generation, transmission, distribution, protection and utilization of electrical power; equipment like circuit breakers, isolators, relays etc; capital goods and machinery required to manufacture the products; equipment for process control, instrumentation, monitoring and recording; equipment for railway electrification; equipment for telecommunication; lighting equipment, energy conservation equipment, medical electronics equipment, computer hardware and software, raw materials, industrial consultancy and procurement agencies.

[Further details are available on website: www.elecrama.com]

Tenders

Global Tender Notice No

The Oil and Natural Gas Corporation Limited, Office of General Manager, Mumbai Region, Engineering Services (Offshore), India invites tenders under Two Bid System through e-procurement as per details below:

Tender No.	Description	Tender fee (US$)	Closing Date & Time	Opening date & Time
P865C09002	Sub Sea Pipeline for B-193 Project	1000.00	27.07.2009 at 1400 Hrs.	27.07.2009 at 1500 Hrs.
P865C09003	05 Well Head Platform for B-193 Project	1000.00	31.07.2009 at 1400 Hrs.	31.07.2009 at 1500 Hrs.
P861C09006	Process Platform for B-193 Project	1000.00	24.08.2009 at 1400 Hrs.	24.08.2009 at 1500 Hrs.

[Complete details are available on ONGC’s website: https://etender.ongc.co.in]

Global Tender Notice No: CO/CONTS/0017N/M-I & II/TSBM/Cont. Mines/09

The Neyveli Lignite Corporation Ltd., Office of the Chief General Manager (Contracts), Tamil Nadu, India invites tenders for the:

“Manufacture and supply of 04 Nos. Of Conveyor Track Shifters/Belt Mover (02 Nos. For Mine-I and 02 Nos. For Mine-II) of lifting capacity not less than 15 Ton, inspection of equipment at workshop/during manufacturing/on receipt at site for shortages/damages, erection at site, testing and commissioning of equipments at project site including initial spare parts” as per details below:

Price of Tender Document: US$ 238

Bid Guarantee Amount: US$ 19,070

The closing of tender is on August 19, 2009 up to 1430 hrs (IST) and the tender will be opened on the same day at 1500 hrs (IST).

[Complete details of the tender and tender documents are available on NLC’s website: www.nlcindia.com]

Global Tender Notice No. 9012/G/Advt/C/EO

The General Manager, Ordnance Factory, Kalpi Road, Kanpur-208009 invites applications for tender bid for “Procurement of Plant & Machinery” for following item:

Brief Nomenclature of Store	Qty.	EMD (Rs.)	Tender Opening Date
CNC Horizontal Shrinkage Press.	01 No.	2,00,000/-	Date: 03/08/2009

[For further details, please contact the General Manager, Ordnance Factory, Government of India, Kalpi Road, Kanpur-208009, India, Email: ofc.ofb@nic.in]

Global Tender Notice No. IGM-M/GT/NICKEL-BRASS COILS/2009

The India Government Mint, Office of General Manager, Mumbai, India invites tenders under Two Bid System from eligible and qualified tenders for supply of following goods:

Schedule No.	Description	Qty.	Earnest Money (in Rs.)	Delivery Period
1.	Nickel Brass Coils	9000 M.T.	Rs. 575 lakhs or US$ 1.2 million (Rupees Five Hundred & Seventy Five Lakh or US$ 1.2 million) to be enclosed with Technical bid.	10 months

The closing of tender is on September 14, 2009 up to 1400 hrs (IST) and the tender will be opened on the same day at 1430 hrs (IST).

[Complete details are available on website: https://www.mumbaimint.org]

Global Tender Notice No. KMVM900306

The Bharat Heavy Electricals Limited, Electronic Division, Bangalore, India invites tenders for “Supply and Commissioning of 500 KVAR Statcom Panel” as per the details below:

S.No.	Description	Qty.	Delivery Qty.	Delivery Date
1.	500 KVAR Statcom for AC Drives Test Facility.	1	1	31-03-2010

The closing of tender is on August 28, 2009 up to 1300 hrs (IST) and the tender will be opened on the same day at 1330 hrs (IST).

[Complete details of the tender and tender documents are available on website: www.bhel.com or www.bheledn.com or www.tenders.gov.in]

________________________________________________________________

Published by : High Commission of India, Ottawa, Canada

Editor : Deputy High Commissioner

Sub-Editor : Second Secretary (Commercial)