TECH-IMPORT POLICY LIBERALISED
Article Abstract:
The government has liberalised import of technology to make the Indian industries more competitive. It has decided to allow the technology imports for projects assessed and funded by financial institutions (FIs) and projects of the governments of India and state public sector undertakings (PSUs) through a channel which will be monitored by Reserve Bank of India (RBI). No restriction would be imposed on the quantum of lump-sum payments or royalty payments or phasing of instalments. Such payments will now be allowed as per terms of the project as certified by FIs and CEOs of PSUs. The ministry of industry is to prepare a negative list of technologies harming national interests and make the required changes in the proposal in order to deal with cases of misuse or fraud in imports of technology. The government has revised its policy to match the policy initiatives in foreign direct investment (FDI), external commercial borrowings (ECBs) and import tariffs. During 1995-96, India had to pay Rs1,600 crore for importing technology while it gained only Rs150 crore (nine percent of import) by technology export. Comparatively in Germany and UK the ratio was 50-60 percent and in the US the exports were more than its imports. (um)
Comment:
India: Government has liberalized import of technology to make the Indian industries more competitive
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DIRECTORATE FOR INFO ON GLOBAL PRICES SOON
Article Abstract:
The Government of India is considering establishing a directorate of valuation to monitor valuation practices of the importers. This move of the Government is to disseminate information on global prices of products being imported into the country. This will also help to eliminate under-valuation and mis- classification of imported products which will lead to loss in revenue. The advisory board will check unjustified delays in cargo clearance at ports and airports. (gs)
Comment:
India: Govt considers establishing a directorate of valuation to monitor valuation practices of the importers
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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REAL GDP GROWTH PEGGED AT 7%
Article Abstract:
The finance ministry has placed India's real gross domestic product (GDP) growth at about 7 percent and inflation rate at about 5 percent for 1999-2000. The nominal GDP works out to Rs1,998,875 crore for 1999-2000 compared to Rs1,776,644 crore in 1998-99. This nominal growth of 12.5 percent is a sum of 7 percent real growth and 5.5 percent inflation. The fiscal deficit for 1999-2000 has been estimated at Rs79,955 crore, which is 4 percent of GDP. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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