States seek private cash

Article Abstract:

India's federal officials are trying to attract foreign investments for infrastructure development projects in their states, as funding from the national government has dried up due to growing federal deficit. India's states have jurisdiction over development projects such as those in agriculture, industry, ports, energy and roads. States are sponsoring conventions to attract investments and are working to revise investment regulations. The state of Maharashtra, for example, needs $5 billion for its infrastructure development project that includes technology parks, ports and power.

Heavy construction, not elsewhere classified, All Other Heavy Construction, Heavy Construction, Except Highway, Transportation Construction, Water & Marine Constructn, Investment Incentives to Foreign, Power and Communication Transmission Line Construction, Utilities Construction, Water supply construction, Infrastructure (Economics), Construction industry, Foreign investments, Finance, Economic development, Hydraulic structures, Marine construction, Investment incentives, Utility construction

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ITC offers a bright spark in the slow-burning stock market

Article Abstract:

ITC is posed for growth in India's cigarette industry, analysts maintain. ITC's market share is continually expanding registering 68% in 1997 with growth prospects positive, investment advisers maintain. ITC shares were traded 585.25 rupees in the second week of Jan 1997 and analysts maintain that the company's performance would be better compared to the performance of many blue-chip companies in the Indian bourse.

Forecasts and trends, Market share, Investment advisers

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India authorities arrest four in ITC investigation

Article Abstract:

Indian authorities arrested ITC Dir.-International Business Div. R.K. Kutty and former executives G.K.P. Reddy, R.B. Ravindranabh and M.B. Rao for violating the Foreign Exchange Regulation Act. The investigation, which also included searches in the homes of two former ITC chairmen, concerns the transfer of ITC funds to Swiss bank accounts. The arrest has resulted in the 5.6% drop of ITC shares to $8.50 each.

Foreign Exchange & Reserves Policy, Laws, regulations and rules, Investigations, Foreign exchange

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