International Events.qxd
International Events.qxd
International Events.qxd
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Prime Minister Manmohan Singh lights the lamp to inaugurate the 9th<br />
PBD in New Delhi. At left is the chief guest from New Zealand Sir Anand<br />
Satyanand, Governor General, descendant of indentured workers who<br />
went to Fiji. Also seen Ministers Vayalar Ravi and B.K. Handique and<br />
Secretary Didar Singh<br />
also involved. There was also a session dedicated to the<br />
Indian youth of the world at the main PBD, this one was<br />
• India’s exports during November, 2010 were 26.5 per cent<br />
higher in Dollar terms (22.3 per cent higher in Rupee<br />
terms) than November, 2009. Cumulative value of<br />
exports for the period April-November 2010 registered a<br />
growth of 26.7 per cent in Dollar terms and 20.5 per cent<br />
in Rupee terms over the same period last year.<br />
• India’s imports during November, 2010 represented a growth<br />
of 11.2 per cent in Dollar terms (7.5 per cent in Rupee terms)<br />
over the level of imports in November, 2009. Cumulative<br />
value of imports for the period April-November, 2010 registered<br />
a growth of 24.0 per cent in Dollar terms and 18.0 per<br />
cent in Rupee terms over the same period last year.<br />
• Core infrastructure-supportive sectors grew by 7.0 per<br />
cent in October 2010 as compared to the growth of 3.9<br />
per cent in October 2009. During April-October 2010-11,<br />
these sectors grew by 4.5 per cent as compared to 4.8 per<br />
cent during April-October 2009-10.<br />
• Exports, in US dollar terms increased by 21.3 per cent and<br />
imports increased by 6.8 per cent, during October 2010.<br />
• Tax revenue (net to Centre) during April-October, 2010-11<br />
recorded a growth of 27.0 per cent compared with corresponding<br />
period of 2009-10. Non-tax revenue grew by 149.3<br />
per cent in April-October 2010-11 on account of one-off<br />
nature of receipts of proceeds from Spectrum auction.<br />
Global Manufacturing Hub<br />
India is fast emerging as a global manufacturing hub<br />
The High Commission of India in Trinidad and Tobago, Port of Spain<br />
FEATURE<br />
chaired by Canadian MP Ruby Dhalla.<br />
A session on engaging with the PIOs moderated by<br />
High Commissioner Mr Malay Mishra and chaired by Union<br />
Minister of State for External Affairs Ms Preenet Kaur was<br />
very well attended. The panel of speakers included<br />
Malaysian Minister Dr Subramaniam, his mentor Mr Samy<br />
Vellu, a former minister himself, Mr Ashook Ramsaran of<br />
the GOPIO <strong>International</strong>, Minister Rajeshwar Jeetah of<br />
Mauritius. The PBD Chief Guest Sir Anand Satyanand, the<br />
Governor General of New Zealand, attended the session<br />
that drew a packed audience. HC Mishra has been posted in<br />
Trinidad, and had earlier been with the MOIA’s diaspora<br />
division, and took it upon himself the Government’s sustained<br />
efforts at strengthening ties with the descendants of<br />
the older diaspora, mainly indentured workers. It was good<br />
precursor to what followed on January 11, when Union<br />
Ministers Mr Vayalar Ravi and Ms Mamata Banerjee<br />
unveiled a plaque at the Kolkata port in memory of indentured<br />
workers. The Pravasi Bharatiya Samman Awards generated<br />
less controversy as the awardees were selected by an<br />
independent body. ❖<br />
TRADE & ECONOMY<br />
ECONOMY<br />
with a large number of companies shifting their manufacturing<br />
base to the country. Moreover, India has the largest<br />
number of companies, outside of Japan, that have been<br />
recognised for excellence in quality. As many as 21 companies<br />
have received the Deming Excellence awards; 153 companies<br />
have achieved Total Productive Maintenance (TPM)<br />
Excellence Award for their total productivity management<br />
practices by the Japan Institute of Plant Maintenance<br />
(JIPM) committee.<br />
Nissan Motor Ltd of Japan is looking at a four-fold<br />
increase in sourcing of production components from India<br />
for its global operations. The company would import US$<br />
10 million of components in 2010 from Indian vendors. It<br />
is set to increase this to US$ 40 million by the end of 2012.<br />
Japanese automobile major, Yamaha, is planning to make<br />
India a hub for manufacturing its premium and deluxe bikes for<br />
overseas markets. The company’s Indian unit supplied 66,904<br />
bikes in fiscal 2010 to Yamaha’s global operation compared with<br />
38,639 units in 2008-2009, an increase of 73 per cent.<br />
VE Commercial Vehicles (VECV) is investing US$ 61.9<br />
million in its Pithampur plant for the production and final<br />
assembly of Volvo’s new global medium-duty engine platform.<br />
The expanded facility will act as a global manufacturing<br />
hub for Volvo group’s requirements.<br />
Nokia’s manufacturing facility at Sriperumbudur near<br />
Chennai crossed production volumes of 350 million handsets<br />
in April 2010. Nokia is now exporting to North<br />
YATRA | JANUARY - FEBRUARY 2011 | 15