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Indian companies urged to go global
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Towards a new world environment order
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| 04. TRADE AND ECONOMY |
Indian companies urged to go global |
The Union Minister of Commerce and Industry, Shri Kamal Nath addressing the gathering at the global launch of his book titled, " India's Century: The Age of Entrepreneurship in the World's Biggest Democracy", at a function, organised by CII, in London on December 13, 2007.
Shri Kamal Nath, Union Minister of Commerce and Industry, Government of India, has called on the new generation of Indian entrepreneurs to go global and look for synergies and integrations arising out of developments in the international trade and business environment. Speaking to a select gathering of invitees including senior media critics and journalists at the global launch of his book titled, " India's Century: The Age of Entrepreneurship in the World's Biggest Democracy" in London Shri Kamal Nath explained that the book's central theme was India's emergence, |
from the backwaters of global economy to its frontline, generating aspirations for the future based on the recent outstanding achievements.
Pointing to the current uncertainties in the global economy, Shri Kamal Nath, the Indian Trade Minister, urged the Indian entrepreneurs to stay globally competitive as this was possibly the only way to carry business forward. Not only was the lifespan of new and emerging technologies considerably changing – with what was new today becoming outdated tomorrow – but consumer preferences and consumption patterns were also living to shorter durations. In the changing milieu, it was imperative, the Minister observed, that the Indian entrepreneurs not only came up with globally competitive technological improvements in their product profiles but ensured globally competitive business practices to be perpetually alive to new opportunities for growth and partnerships.
The book explores the entrepreneurial spirit that, in combination with economic liberalism, had given the Indian economy momentum and placed it on the fast track. The book, published by McGraw-Hill of New York, is a first hand account of Shri Kamal Nath's ideas, initiatives and his successfully taking the Indian businesses onto the global platform whilst also offering a roadmap for the Indian entrepreneurs to benefit from emergent trade opportunities. The book explores and narrates India's journey of transformation into a global economy. It thereafter relates India's economic engagement with the leading nations of the world and how it could be profitable for stakeholders in the coming years.
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Exports up by over 26.82% |
India’s exports during November 2007 were valued at US $ 12425.11 million, which was 26.82% higher than the level of US $ 9797.67 million during November 2006. In rupee terms, exports touched Rs. 49000.16 crore, which was 11.51 % higher than the value of exports during November 2006. Cumulative value of exports for the period April-November, 2007 was US$ 98386.06 million (Rs. 398385.78 Crore) as against US$ 80590.19 million (Rs. 368807.15 Crore) registering a growth of 22.08% in Dollar terms and 8.02% in Rupee terms during the same period last year.
Imports during November 2007 were valued at US $ 19831.79 million representing an increase of 29.26 % over the level of imports valued at US $ 15342.36 million in November 2006. In Rupee terms, imports increased by 13.66%. Cumulative value of imports for the period April-November, 2007 was US$ 151190.37 million (Rs. 612356.61 Crore) as against US$ 119078.24 million (Rs. 544674.11 Crore) registering a growth of 26.97% in Dollar terms and 12.43% in Rupee terms during the same period last year.
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Oil imports during November, 2007 were valued at US $ 5823.49 million which was 16.72% higher than oil imports valued at US $ 4989.14 million in the corresponding period last year. Oil imports during April-November, 2007 were valued at US$ 43348.93 million, which was 10.19% higher than the oil imports of US$ 39338.91 million in the corresponding period last year.
Non-oil imports during November 2007 were estimated at US $ 14008.30 million, which was 35.30% higher than growth of non-oil imports of US$ 10353.22 million in November 2006. Non-oil imports during April-November, 2007 were valued at US$ 107841.44 million which was 35.24% higher than the level of such imports valued at US$ 79739.33 million in April-November, 2006.
The trade deficit for April-November, 2007 was estimated at US $ 52804.31 million, which was higher than the deficit at US $ 38488.04 million during April-November, 2006.
Source : Business Standard |
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India scores high on World Intellectual
Property Organisation ranking |
 In recognition of the efforts made by the Government of India in modernising its intellectual property systems as well as infusing transparency and openness in the system, the 170 plus Member States of the World Intellectual Property Organization (WIPO), in the recently concluded General Assemblies of WIPO, endorsed India’s recognition as an International Searching Authority (ISA) and an International Preliminary Examining Authority (IPEA).“The recognition of India as an ISA/IPEA puts India in a coveted league of only 15 nations and organization which are currently recognized at a global level by ISA/APEA”, Shri Kamal Nath, Union Minister of Commerce and Industry, informed in a press briefing here today.
He further said that it is a recognition of our efforts to recognise the intellectual property system as well as lay down benchmark for future milestones that we need to achieve.The status of ISA and IPEA would be beneficial for India in several ways. Apart from the international recognition that our IP system would get, it would also generate revenues in the form of fees that would be provided to us for functioning as an ISA/IPEA. |
Being the only English speaking nation in the Asian region to be recognized as an ISA/IPEA would mean that several international applications received by WIPO under the Patents Cooperation Treaty would be sent to the Indian Patent Offices for search and preliminary examination purposes. E-filing facilities for patents and trade marks applications was launched in July this year. In the last 3 years, several important milestones have been achieved in the field of Intellectual Property rights in India. The Patent Act was amended in 2005 in order to meet our international obligations. A Rs.153 crore modernization programme for augmenting the infrastructure and human resources in Intellectual Property Office, creation of awareness regarding IPRs and introducing IT enabled efficient systems was completed on 31 March 2007.
During the briefing, Shri Kamal Nath also informed that India has retained the Second place in A.T. Kearney’s 2007 Foreign Direct Investment Confidence Index, a position it has held since displacing the US in 2005. “India continues to attract investors in the high value-added services industries like financial services and informed technology. India is the 2nd most preferred location for investors in Asia and USA. However, for European investors, India has claimed the top slot, displacing China”, he further informed.
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