India-Singapore IPR cooperation likely to be signed soon

Press Information Bureau
Government of India
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Ministry of Commerce & Industry
India-Singapore IPR cooperation likely to be signed soon

SINGAPORE TRADE MINISTER MEETS KAMAL NATH
New Delhi: Monday, June 23, 2008.

Shri Kamal Nath, Union Minister of Commerce & Industry, has stated that a Bilateral Agreement on Intellectual Property Rights (IPR) Cooperation between the Intellectual Property Offices of India and Singapore will be signed shortly. During his bilateral meeting with Mr. Lim Hng Kiang, Minister for Trade and Industry of Singapore, here today, Shri Nath informed that as regards ASEAN-India FTA, considerable progress was made during the last meeting in Bali and added: "I am now hopeful that we would be able to achieve our target of announcing the conclusion of negotiations at the AEM-India Consultations in August".

During the interaction, Shri Kamal Nath said that Singapore was India's 5th largest merchandise trading partner and 4th largest merchandise export market and added that India's exports to Singapore grew by 16% in the year 2007-08 compared to a growth of 42% in the imports from Singapore. He further stated that Singapore ranks 4th in terms of foreign direct investment in India during the period 1991-2008 with investments of US $ 4.7 billion.

The total bilateral trade during 2006-07 was US $ 11.49 billion and has increased by 25.88% to US $ 13.42 billion n the year 2007-08 (up to February 2008) over the same period in 2006-07. Major items of Indian exports to Singapore were: petroleum (crude & products); other commodities; transport equipments; electronic goods and non-ferrous metals. Major items of Indian imports from Singapore were: electronic goods; petroleum (crude & products); organic chemicals; machinery (except electrical & electronic) and project goods.

The top five sectors attracting FDI inflows from Singapore are: petroleum & natural gas, mining, services sector, construction activities and power, whereas the top five sectors attracting technology transfer are: electrical equipments (including computer software & electronics), hotel & tourism, food processing industry, chemicals (other than fertilizer) and miscellaneous mechanical & engineering industries.

rj/mrs/dk-s.pandey/kol/17:45 hrs.

Press Information Bureau
Government of India
* * * * * *
Ministry of Commerce & Industry
India-Singapore IPR cooperation likely to be signed soon

SINGAPORE TRADE MINISTER MEETS KAMAL NATH
New Delhi: Monday, June 23, 2008.

Shri Kamal Nath, Union Minister of Commerce & Industry, has stated that a Bilateral Agreement on Intellectual Property Rights (IPR) Cooperation between the Intellectual Property Offices of India and Singapore will be signed shortly. During his bilateral meeting with Mr. Lim Hng Kiang, Minister for Trade and Industry of Singapore, here today, Shri Nath informed that as regards ASEAN-India FTA, considerable progress was made during the last meeting in Bali and added: "I am now hopeful that we would be able to achieve our target of announcing the conclusion of negotiations at the AEM-India Consultations in August".

During the interaction, Shri Kamal Nath said that Singapore was India's 5th largest merchandise trading partner and 4th largest merchandise export market and added that India's exports to Singapore grew by 16% in the year 2007-08 compared to a growth of 42% in the imports from Singapore. He further stated that Singapore ranks 4th in terms of foreign direct investment in India during the period 1991-2008 with investments of US $ 4.7 billion.

The total bilateral trade during 2006-07 was US $ 11.49 billion and has increased by 25.88% to US $ 13.42 billion n the year 2007-08 (up to February 2008) over the same period in 2006-07. Major items of Indian exports to Singapore were: petroleum (crude & products); other commodities; transport equipments; electronic goods and non-ferrous metals. Major items of Indian imports from Singapore were: electronic goods; petroleum (crude & products); organic chemicals; machinery (except electrical & electronic) and project goods.

The top five sectors attracting FDI inflows from Singapore are: petroleum & natural gas, mining, services sector, construction activities and power, whereas the top five sectors attracting technology transfer are: electrical equipments (including computer software & electronics), hotel & tourism, food processing industry, chemicals (other than fertilizer) and miscellaneous mechanical & engineering industries.

rj/mrs/dk-s.pandey/kol/17:45 hrs.

Press Information Bureau
Government of India
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Ministry of Agriculture
NCDC disburses record Rs. 3652 to cooperative sector
New Delhi: Monday, June 23, 2008.

The National Cooperative Development Corporation has once again recorded a spectacular performance by releasing an assistance of Rs. 3652 crore to the cooperative sector during 2007-08, thus exceeding its target of Rs. 2000 crore comprehensively. NCDC is expecting a pre-tax profit of Rs. 130 crore which is substantially higher than that in the previous fiscal.

This was stated by Shri Sharad Pawar, Minister of Agriculture, Consumer Affairs, Food & Public Distribution while presiding over NCDC's 66th General Council meeting here today.

Speaking on the steps taken by the government to address the difficulties of the farming community, especially the small and marginal farmers, Shri Pawar said: 'Keeping this in view, the Government has announced a Rs.71680 crore agricultural debt waiver and debt relief scheme for farmers covering direct agricultural loans. The Scheme which is the first of its kind since independence, is expected to benefit about 4.3 crore farmers. The Government has also identified 237 districts in 18 states where productivity is quite low as these are in desert and drought prone areas. Farmers of these areas would be eligible for a minimum loan relief of Rs. 20,000 each even if his land holding was above 2 hectares.'

The other major initiative taken by the government include significantly raising MSP for various crops, rehabilitation package of Rs. 16,979 crore for 31 suicide prone districts and formulation of National Policy on Farmers. Shri Pawar expressed satisfaction that the initiatives taken by the government have started facilitating a turnaround of our agricultural economy. The country has achieved an all time record production in major crops like rice, wheat, maize, tur and cotton and the agriculture growth rate is estimated at around 4.5 per cent for 2007-08. The higher agriculture growth will push the gross domestic product growth rate to 9% from the initial estimate of 8.7%, he said.

The Minister also informed the General Council that the Central Government and the State Governments have reached an agreement on the content of the package to implement Prof. Vaidyanathan Committee's report on reviving the long-term cooperative credit structure. The cost of the package is estimated at Rs. 3,074 crore of which the Central Government's share will be 2,642 crore or 86% of the total burden.

mp:cp:ncdc(23.6.2008)/dk-s.pandey/kol/17:46 hrs.

Press Information Bureau
Government of India
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Ministry of Shipping, Road Transport & Highways
Highest Number of vessels handled by Kolkta Port in 2007-08 Thiru. T.R. Baalu reviews performance of Kolkata Port Trust
New Delhi: Monday, June 23, 2008.

The Union Minister of Shipping, Road Transport & Highways, Thiru. T. R. Baalu reviewed the working and performance of the Kolkata Port Trust and directed the Port Authorities to take expeditious steps for revalidation of the proposed River Regulatory Measures Scheme by Central Water Power Research Station, in addition to the short term measures to improve the draught at the Port.

Kolkata Port Trust (KoPT), which has handled the highest number of vessels among the Major Port Trusts, i.e., 3344 vessels in 2007-08 is taking up a number of projects under the National Maritime Development Programme (NMDP) for augmenting its capacity and has recently commissioned two new berths No.2 & 13 at a cost of approximately Rs.87.00 crores. It is, however, constrained by the problems relating to the draught availability in view of the siltation of the channel on River Hooghly.

Kolkata Port, in order to maintain the channel depth, is intensifying its maintenance dredging works. However, in case it is allowed to do dumping of the dredged material at the shore itself, the productivity of the dredgers would go up substantially as they would not have to go to distant dumping sites for dumping the dredged material.

Thiru. T.R. Baalu said that the acquisition of land at Jellingham for this purpose is required to be expedited by the West Bengal Government and he would be writing to the State Chief Minister in this regard. Thiru Baalu said that he would also be taking up the matter of the State Government granting permission for allowing Social Impact Assessment of the acquisition required for Diamond Harbour Container Terminal Project.

It may be mentioned here that the Feasibility Report of the Diamond Harbour Container Terminal Project is completed. The construction of Container Handling Jetties at Diamond Harbour is being planned in terms of the recommendations of the High Powered Committee set-up by the Ministry. This would enable vessels to avail of higher draught in the navigable channel and also result in reduction in freight costs and turn-around time of vessels.

vba/bs/dk-s.pandey/kol/17:46 hrs.