INDIAN SEAFOOD FACES DANGER OF ANOTHER EU BAN
Article Abstract:
The representatives of seafood industry and trade in India are apprehensive about the forthcoming inspection by the European Commission authorities in March 1999. They fear that seafood exports from India may face another ban. Seafood entrepreneurs have spent money on upgrading the quality of their factories but the Government has not improved common infrastructure, like fish- landing areas and water supply. The seafood sector may incur financial losses and unemployment, if the European Union (EU) bans imports of seafood from India. A 4-member team from the European Commission is to inspect some units and laboratories of the Export Inspection Agency. The Seafood Exporters Association is apprehensive about a negative view of the European Commission on the action taken to improve common infrastructure facilities. In all, 55 units had the clearance to export to the European Union. Seafood exports of Rs1,000 crore are at stake, if the European Commission bans imports from India. Countries like USA and Japan may also ban imports of seafood from India. (rk) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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HIGH INTEREST RATE REGIME MAY STAY TILL RE STABILISES
Article Abstract:
The Reserve Bank of India (RBI) has kept the interest rates high for two-year Government securities and 91-day treasury bills. This is likely to maintain rupee stability against dollar. The rate of interest for short-term will remain high till funds reach the real sector. The market witnessed no activity in the medium to long term and some activity in the short term. RBI has focused more on the stability of the rupee than on money markets. RBI is likely to decrease the interest rates on increased credit offtake, disinvestment in public sector undertakings and fund flow to the projects. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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