11th LPGTrade Summit

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T he epidemiological situation of malaria in the country, has shown a decrease by 2. During September , a total of cases with 83 deaths due to Japanese Encephalitis have been reported from the States as against cases with deaths during the corresponding period of U nder the programme, a quantity of 3. The results of analysis have indicated that During the corresponding period of , out of 33,58, samples screened, 79, were found to be HIV positive.

This will concentrate on the five endemic States of U. A two-member Indian delegation led by Smt. The other member of the delegation is Dr. T he Government has decided to appoint Government Directors on defaulting Nidhi Companies to reinforce confidence of depositors. This follows a recent tripartite meeting at Chennai wherein the Department of Company Affairs, Reserve Bank of India and Chamber of Nidhi discussed liquidity crunch faced by some Nidhi Companies there. Meanwhile, fresh guidelines for tightening regulations in respect of Nidhi Companies are under formulation.

The guidelines are expected to be issued shortly. A Committee on Investor Protection Fund is expected to be announced in near future. Took keen interest in the eradication of illiteracy. Reading fiction and some non-fiction. He met the Senior officials of the Ministry.

The President, Shri K. Narayanan in his address to the first Session of both Houses of Parliament after the 13 th Lok Sabha Elections had mentioned that the newly created Department of Drinking Water Supply in the Ministry of Rural Development will implement a programme to provide clean drinking water to all villages in the next 5 years.

The Prime Minister, Shri Atal Bihari Vajpayee in his address to the nation also said that in the coming days the Government proposes to re-arrange its priorities by re-deploying the resources and strengthening institutions for providing to all - Safe Drinking Water; Primary Health Services, Primary Education, Rural roads and Housing to rural homeless.

R PF has achieved major success in nabbing criminals during the special drives conducted on Eastern Railway. In one incident yesterday, two RPF constables chased and apprehended 9 persons who were escaping from Down Shaktipunj Express when the train slowed down at hours near Galsi Railway station in Asansol Division. They were all found ticketless and 9 knives, 6 wrist watches, 11 silver rings and 2 silver chains were recovered from their possession.

In another incident, yesterday at hours, the RPSF personnel escorting the Dn, Shramjeevi Express nabbed five criminals from reserved compartment. They were travelling ticketless and from their possession five country made revolvers, 5 knives and 6 live cartridges were recovered.

They have confessed that they were going to commit dacoity. In other incidents, 16 other criminals have been arrested by the Howrah Division in Tikiapara, Chinsura, Sheoraphulli and other areas in Hughli. The criminals are being forwarded to the court and concerned GRPs have been informed to take them under custodial warrant. The special drives are being conducted as per the directives of the Railway Minister Ms.

Ramachandran, Minister of State for Textiles, has called for establishing a mutually beneficial trade relationship between India and Taiwan by using the synergies which exist between the two countries. The Minister was addressing the Summit Meeting: Towards a new millennium: Indo-Taiwan Trade Promotion, here today. The Minister said that there was tremendous scope and potential for increasing trade between India and Taiwan, especially due to the shared perception between the Governments of the two countries to catch up on lost opportunities.

Referring to the complimentary benefits the two countries have in trading with each other, Shri Ramachandran said that while India was a source of labour intensive goods and natural resources, Taiwan had a competitive edge in providing high-technology products.

Speaking on the occasion, Mr. Lin further added, " there is a tremendous scope for growth of Indo-Taiwan relations". In his inaugural speech, Shri Navratan Samdria said that the topic for the summit meeting was most appropriate as it reflected a bold step in the direction of globalisation.

Taiwan, he said, has become a major sourcing centre for many information technology products, sports goods, machinery and consumer ready products and India could gainfully benefit from a closer trade relationship between the two countries. The meeting concluded with mutual announcements on information exchange, delegation exchange, exhibition exchange and investment exchange between the two sides. The cheque for Rs. Speaking on the occasion, the Minister complemented STC for the increase in their net profit from Rs.

The Chairman informed that this profit was achieved despite the increased expenditure of Rs. The Chairman, STC further informed the Minister that the corporation is exploring the possibility of entering into retail distribution by setting up a departmental store-cum-supermarket for which purpose, the corporation will utilise part of its multistorey building at the prime commercial building at New Delhi.

The Corporation could consider soliciting proposal for joint venture from the interested retail chain of repute in and outside the country, Dr. During the year , STC achieved significant increase in exports of castor oil, coffee, sugar, engineering and construction material, tea and medical disposables, the Chairman informed.

However, to make up for the decline in the canalised imports, STC has positioned itself in the import of edible oil, pulses and wheat on commercial account under OGL.

DEA welcomed the new Minister of State for Commerce and also apprised him as to why exports were going down. The points highlighted were: Problems in Banks including non-availability of export credit on time; high rate of interest; short payment and delay in crediting export proceeds; problem in Customs clearance and infrastructural problems.

Agarwal explained to the Minister that there are total 1,50, exporters of whom are small, medium and tiny exporters. All policies are made favourable to the big ones. The Exim Policy announced was purely import oriented and there was hardly anything for direct exports without import input", DEA said. The Minister asked the Association to present a complete action plan for export growth from the country and agreed to have a meeting with the DEA to discuss the issues shortly.

The delegation was led by Shri S. These Committees not only act as facilitators for development of infrastructure but also provide important inputs for simplifying procedures besides suggesting long and short-term measures for creation and improvement of infrastructure.

The TAMP would hear the concerned parties, viz. As per estimates there is a drain of approx. AAI shall convene a meeting to settle the matter of setting up of courier Terminal at Delhi and Mumbai. Outlining the strategy at a Seminar on "Indo-Dubai Business Opportunities" organised by the Confederation of Indian Industries CII where the Minister interacted with a high-level business delegation from the Dubai Chambers of Commerce and Industry here yesterday, Shri Abdullah indicated that the key elements of the action plan would be: He also invited the Dubai Chamber of Commerce and Industry to avail of the liberalised a foreign trade regime in India and invest in Indian industry in order to further bilateral cooperation.

Shri Abdullah spelt out the various bottlenecks which were coming in the way of Indo-UAE trade and said that these must be removed. This, the Minister said, needs to be tackled appropriately on a government to government level.

Referring to the virtual ban imposed by UAE on export of Indian drug and pharmaceuticals, the Minister clarified that Indian drugs and pharmaceuticals were second to none in the world in both quality and price. We in India need to explore the market in the UAE with a view to selling products other than the traditional ones like gold, spices and rice etc.

Nonetheless, the potential of bilateral trade is immense and has not been fully exploited. T he Government has decided to establish Indian Institute of Maritime Studies to upgrade maritime training in the country.

It will be created by forming a registered society and placing the four Government-run maritime institutions within its domain. These institutions are now subject to various rules and regulations applicable to Government organisations. With the formation of a separate society to oversee the affairs of these training institutions, it is expected that they will be able to perform better as a result of greater operational freedom. The new Institute will provide training in the maritime field to prepare top class trained personnel for the Merchant Navy ; will help the Indian shipping industry with up to date information through research and publication and will assist the training institutes in the country to carry out research in a number of relevant areas.

It is proposed to transfer the assets of the institutions to the new society and also provide for lump sum funds as block grants. The representatives of the industry will be actively associated with the running of the Institute and modalities will be worked out for smooth transition from Government-run institutions into training institutions of excellence in the field. It is also proposed to chart out a time bound 'plan of action' so that the Institute becomes self-sustaining over a period of time.

As early as in , a Committee had recommended the setting up of an Indian Maritime University to manage various Government-run maritime training institutions. The decision to start an autonomous body now is expected to be a forerunner for the ultimate conversion of the society into a deemed University and subsequently, into a full-fledged University. The new set up is expected to provide considerable operational freedom to the institutions, thereby facilitating the starting of new programmes and courses.

Maritime training is perceived as a continuing process and comprises of various stages such as pre-sea training, on-board training, post-sea training and specialised training. Training of maritime personnel in India has been accorded top priority by the Government of India since independence.

T he Central Government has accepted the offer of Punjab Government for supply of brown rice from the State to the Central Pool instead of fully finished rice. The Punjab Government in a letter to the Centre has made this offer to expedite the milling the paddy and complying with the specifications announced by the Government of India for rice procurement for kharif season.

The millers are ready to take paddy from Punjab and mill the stock in Tamil Nadu for issue under Public Distribution System in the State. T he Bill proposes to expand the definition of securities under the Securities Contract Regulation Act, to include derivatives and instruments of the collective investment schemes.

This would enable development and regulation of markets for derivatives of securities and units of collective investment schemes. This would enable the RBI to regulate the transactions in government securities and other related instruments as may be specified by the Government. In the last few years there have been substantial improvements in the functioning of the capital market.

Risks have been reduced by requirement of adequate capitalisation, margining, establishment of clearing corporations in stock exchanges, etc. Systemic improvements have been made by introduction of screen based trading and depositiories to allow book entry transfer of securities and so on. However, there are inadequate advanced risk management tools. With a view to providing such tools and to strengthen and deepen markets, there is an urgent need to allow derivatives trading in securities for which the infrastructure, rules and regulations are ready.

The Bill, therefore, proposes to include derivatives within the ambit of securities in the Securities Contracts Regulation Act, whereby trading in derivatives may be possible within the framework of that Act.

Recently, many companies, especially plantation companies have been raising resources from investors, which are in the form of collective investment schemes. However, the existing regulatory framework is not adequate to allow an orderly development of this market. In order that the interest of investors is protected, Government took a decision that SEBI would frame regulations with regard to collective investment schemes, which would include instruments such as Agro bonds.

To enable the SEBI to regulate collective investment schemes and develop the market for the same effectively, the Bill proposes to amend the definition of securities under the Securities Contracts Regulation Act, so as to include the instruments as well as units of collective investment schemes within its ambit.

The Committee submitted their report on 17 th March The instant Bill incorporates the proposals in the Securities Contracts Regulation Amendment Bill, as well as the modifications suggested by the Standing Committee. However, since it is constituted by Government, its orders may be misconstrued as orders of the Government.

The designated officers comprising Appellate Authorities are finding it difficult to cope with the disposal of a large number of appeals. Hence there is a need to transfer appellate functions from the Government to an agency such as Securities Appellate Tribunal.