Recessionary trend in US likely to impact India

September 25, 2011 admin Exim Updates

The report also indicates India’s global competitiveness is suffering while other countries are effectively eating into India’s global share of world trade. Recently concluded trade and economic cooperation agreements with Singapore, Japan and Malaysia and Free Trade Agreement with ASEAN are important steps for Indian businesses to capitalise upon and improve productivity such that the economy can continue to expand its productive capacity, it was stated. The report concluded the time is right to frame policies and remain optimistic about economic prospects as building and restoring consumer confidence is critical to avoid the consequence of a prolonged economic slowdown.

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Students turn waste in to works of art

June 21, 2011 admin Exim Updates

Three students are creating murals from cast-off materials and are selling it nationally to interior designers. Vu Lan Dung reports Egg shells, wood chips, straw, shredded paper and other waste means nothing to most painters but everything to three final-year students in Ha Noi. They use these unlikely materials to make unique and beautiful art.

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Exim India offers over $36 million line of credit to Tanzania news

June 18, 2011 admin Exim Updates

Export-Import Bank of India (Exim Bank) has extended a line of credit to the United Republic of Tanzania, under which it would make available $36.56 million for financing export of 723 vehicles from India to Tanzania.

The credit, being extended under the India Africa Fund, will be available for all eligible exports of goods and services, including consultancy services, from India for the purpose of financing the purchase of the vehicles, an RBI release said today.

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Exim Bank to provide USD 91 mn to Ethiopia

June 16, 2011 admin Exim Updates

The Export-Import Bank of India (Exim Bank) has entered into an agreement with Ethiopia for extending a USD 91 million line of credit to finance exports and consultancy services for development of the sugar industry in the East African nation.

The Line of Credit (LoC) is effective from May 21 this year and the date of execution of the agreement is February 18, the Reserve Bank said in a statement.

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Uganda set to get $20 million trade institute

June 15, 2011 admin Exim Updates

India, one of Asia’s fastest growing economies, plans to establish a Shs48 billion knowledge centre in Kampala to promote international trade in Africa. Mr K.T Chacko, the director Indian Institute of Foreign Trade, revealed the plan at a conference aimed at getting the input of beneficiaries of the India-Africa Institute of Foreign Trade (IAIFT) in Kampala on Monday. The institute is designed to provide practical professional education in the field of international business and marketing. Source : monitor.co.ug

Pan African project
“It is meant to be a Pan-African project that will promote the marketing of products from Africa to the world. There will be a huge opportunity for acquiring professional knowledge,” Mr Chacko told Daily Monitor on the sidelines of a conference.

The institute which will kick off at the Uganda Management Institute (UMI) this year, before getting its headquarters due in 2013, will train students in management courses including; International Business, Masters in Business Administration and several executive development programmes. Mr Deo Lukonji Bbosa, the acting director of UMI said IAIFT will initially be hosted at faculty of business and competiveness at the institute.

Strengthen cooperation
The institute is part of efforts by the Indian government to strengthen economic cooperation and trade with African nations, under its Pan-African Project. The programme was initiated at the first India-Africa Forum Summit held in New Delhi in 2008. At the second summit in Ethiopia last month, India’s Prime Minister Manmohan Singh also announced a $5 billion credit line for African nations pursuing development goals. The initiatives come at time when major powers in several parts of the world are scrambling for a share of business and mineral resources in Africa.

Other economic powers competing for Africa include; China and the European Union which have initiated various trade agreements with African governments such as the European Partnership Agreements.

In an interview at the conference, Mr Soumen Ray, the High Commissioner of India to Uganda added that the institute is intended to build a strong human resource base to boost the export capacity of African nations. “Today, everyone is producing products. But a product is not the only thing, marketing the product is also important. So we will be building capacity in many areas. This will lead to job creation and help people market their products,” he said.

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FinSys Update: China Smaller May Trade Surplus Due To Imports

June 12, 2011 admin Exim Updates

China’s nominal trade surplus rose to $13.05 billion in May from April’s $11.42 billion, according to the customs data Friday. The May result was below the $17.6 billion surplus median forecast in an MNI survey, mainly due to the higher-than-expected import growth. Chinese import growth remained strong in May, with the year-on-year growth rate hitting a four-month high, easing concerns about a slowdown in domestic demand. The value of Chinese imports rose 28.4% y/y to $144.1 billion in May, the General Administration of Customs said. The value of exports hit a new monthly record level of $157.2 billion in May.

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Brookings Plans to Launch India Centers in US, India

June 10, 2011 admin Exim Updates

SANTA CLARA: Acknowledging the increased geopolitical importance of India, the Washington, DC based Brookings Institute, widely thought of as the leading US think tank on international relations, has launched a Brookings India Initiative and hopes to raise funds to establish an India center in Washington and a staffed Brookings India Center in New Delhi.

Former US ambassador to Israel Martin Indyk, vice president and foreign policy director at Brookings, told India-West at the recent TiE conference here in May that the 96-year-old institute hopes to highlight India’s emergence as a major power and “raise the profile of India in Washington.”

Indyk served as assistant secretary of state for Near Eastern affairs and special assistant to the president, and senior director for Near East and South Asia at the National Security Council during the Clinton administration.

His latest book is “Innocent Abroad: An Intimate Account of American Peacemaking Diplomacy in the Middle East.”

“We hope to bring our scholars to Delhi to help India (in areas) like health, education and (modernization of) metro areas,” Indyk said, adding that the BIC would aim to become a platform for cutting-edge, independent research and analysis.

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