New Delhi: India and Indonesia aim to strengthen bilateral economic ties setting a USD 20 billion trade target for 2015 and to begin negotiations for a Comprehensive Economic Cooperation Agreement (CECA).
Indonesian President Susilo Bambang Yudhoyono, who begins his India visit January 25, will be seeking greater Indian investments in rail and port construction, palm oil, food processing and other areas, a senior Indonesian diplomat said here on Friday.
A 400-member trade delegation from Indonesia has timed its visit with that of Yudhoyono, Indonesian Ambassador Lt Gen (retd) Andi M Ghalib said at a press meet.
Yudhoyono will be the chief guest at the Republic Day parade this year, 61 years after Indonesia's first president Sukarno was the chief guest at India's first R-Day celebrations in 1950.
Ghalib said that Indonesia and India surpassed the USD 10 billion target they had set for bilateral trade in 2010, up from USD 4 billion in 2005. Total trade last year touched USD 12 billion.
The new target of USD 20 billion is set for 2015. In years to come India will be the largest trading partner of Indonesia, the envoy said.
Fighting terrorism will also be high on the agenda during the bilateral talks with focus on eliminating terror funding. An extradition treaty is being worked out and a protocol to curb movement of contraband drugs is also on the anvil, Ghalib said.
Among the new areas to explore cooperation will be energy. A 1980 pact on nuclear energy lapsed as it could not be enforced. Both sides are presently working out measures to cooperate in this field, he added.
Highlighting the strong cultural interaction between the two countries, Ghalib said Indian films, particularly Hindi movies, are very popular in Indonesia.
Emphasising on tourism, the envoy pointed out that Indonesia offers visa-on-arrival facility to Indians although India does not have such an arrangement in place for Indonesians.
Yudhoyono's visit underscores the strategic relationship between the two countries that have had ancient ties, now revived in the contemporary context as leaders of the Non-Aligned Movement (NAM), Ghalib said.
"You are our forefathers," he told media, recalling that all faiths in Indonesia - Hinduism, Buddhism and Islam - had come from India.
The Indonesians have kept alive the tradition of Ramayana and Mahabharata as part of the common cultural heritage.
This blog has been developed to share current market scenario & different management aspects with anyone interested in learning more about business management. This Blog covers all aspects of Business Management with a particular focus on Marketing,Finance,Human Resource,IT & International Business along with case studies for each specialization.
Punjab traders stop veggie exports to Pakistan
Indian traders in Amritsar on Friday stopped sending trucks laden with tomatoes and other vegetables to Pakistan.
Virtually showing discontent over Pakistan's decision to stop sending onions to India via land and rail route, nearly 70 trucks of tomatoes, potatoes, chili and ginger were stopped by the traders near the Attari-Wagah border.
Around 30 Amritsar-based exporters have unanimously taken this decision.
"If they cannot send onions at this crisis situation, then we should also snap our trade with them. We are not concerned about the loses. The Pakistan government has not given any satisfactory reason for their sudden move," Maninder Singh, one of the traders in the action said Friday.
Pakistan's commerce ministry ruled Jan 4 that onions cannot be taken out of the country by the land route, which virtually meant a ban on its export to India since its shipment and air delivery would take more time and cost more.
India was receiving around 50 truck-loads of onions a day from Pakistan since Dec 5. The consignments were mainly coming to India from Pakistan's Sindh province. Pakistan has now said it is facing a shortage of onions itself.
"India is one of the main exporters of vegetables to Pakistan and majority of this trade is done by land route. We will not resume sending vegetables till they start sending onions through the Attari border," said another trader.
Virtually showing discontent over Pakistan's decision to stop sending onions to India via land and rail route, nearly 70 trucks of tomatoes, potatoes, chili and ginger were stopped by the traders near the Attari-Wagah border.
Around 30 Amritsar-based exporters have unanimously taken this decision.
"If they cannot send onions at this crisis situation, then we should also snap our trade with them. We are not concerned about the loses. The Pakistan government has not given any satisfactory reason for their sudden move," Maninder Singh, one of the traders in the action said Friday.
Pakistan's commerce ministry ruled Jan 4 that onions cannot be taken out of the country by the land route, which virtually meant a ban on its export to India since its shipment and air delivery would take more time and cost more.
India was receiving around 50 truck-loads of onions a day from Pakistan since Dec 5. The consignments were mainly coming to India from Pakistan's Sindh province. Pakistan has now said it is facing a shortage of onions itself.
"India is one of the main exporters of vegetables to Pakistan and majority of this trade is done by land route. We will not resume sending vegetables till they start sending onions through the Attari border," said another trader.
IPL-4: No takers for Ganguly, Gayle; Gambhir gets record $2.4m
Bangalore: There were no takers for former India captain Sourav Ganguly and West Indian hard-hitter Chris Gayle while Gautam Gambhir fetched a record USD 2.4 million as corporate honchos, Bollywood stars and cricket experts gathered to value players at the Indian Premier League (IPL) season four auction here Saturday.
Bollywood superstar Shah Rukh Khan's Kolkata Knight Riders, which had been among the bottom-placed teams in the first three editions of IPL, made some smart buying to net Gambhir, big-hitter Yusuf Pathan (USD 2.1m) and South African star Jacques Kallis (USD 1.1m).
Seated eight to a table at the over 7,000 sq ft pillar-less Mysore Hall of ITC Royal Gardenia Hotel here, were the who's who of India's business, Bollywood and cricketing world. Liqour baron Vijay Mallya, his son Siddharth and Anil Kumble were representing the Royal Challengers Bangalore team while Nita Ambani was at the forefront for Mumbai Indians' bidding. Bollywood stars Shilpa Shetty and Preity Zinta were present for Rajasthan Royals and Kings XI Punjab.
The much-awaited IPL auction potboiler had a stirring start with four teams locked in a fierce battle to corner gritty Indian opener Gambhir, who led Delhi Daredevils last season.
Gambhir was at a lowest base price of $200,000, but the moment renowned auctioneer Richard Madley called Gambhir's name, it was a mad scramble for eight minutes.
An intense race followed to get him with five teams -- Kochi, Pune, Mumbai Indians, Royal Challengers Bangalore and Kolkata Knight Riders -- furiously challenging each other.
In fact, it was Subroto Roy's Pune Warriors who had bid first for Gambhir, before Mumbai and Bangalore joined the fray. Kolkata entered the scene at $2 million and then pitched in aggressively to snatch Gambhir away.
Gambhir surpassed Kevin Pietersen and Andrew Flintoff, who were bankrolled by Bangalore and Chennai two years back for $1.5 million each.
Pietersen, who came as a star in the IPL second season, was valued at just $650,000 this time by Deccan Chargers.
However, the shocker at the auction was when the worst fears came true.
Ganguly, who had a nightmarish stint with KKR as captain and player, was the first to go in the unsold basket.
Interestingly, Ganguly, who was the oldest Indian player up for auction at 38 years and six months, had increased his base price from $200,000 to $400,000, which is the highest bracket reserved for marquee players in the league.
Knight Riders were clearly not interested in Ganguly as he was not retained for this season.
As Ganguly's name was called, there was a eerie silence in the room and the spotlight was on the Knight Riders' table. The KKR team think tank looked down as Ganguly's name was repeatedly called before he went unsold.
It is speculated that the former India captain might join one of the new franchisees as player-cum-mentor like Shane Warne is for Rajasthan Royals.
There was more surprise in store as Ganguly's KKR teammate Chris Gayle, who was in the USD 400,000 bracket, also met his fate.
For a time it looked as if VVS Laxman, who had also increased his base price, would too go unsold, but new team Kochi thought it wise to take the renowned Test batsman for the base price of USD 400,000.
Rahul Dravid, who had his share of trouble with Royal Challengers Bangalore, fetched a slightly higher price than his base tag of USD 400,000 with Rajasthan Royals shelling out USD 500,000 for the former India captain.
Royal Challengers did not bid for Dravid.
Australian Andrew Symonds, who had retired from international cricket, was bought by Mumbai Indians for $850,000. Symonds and Harbhajan Singh, one of the four players retained by Mumbai Indians, will now be playing for the same team. The two have been involved in some vicious on field spat after Symonds accused the Indian off-spinner of racially abusing him in the controversial Sydney Test.
New teams Pune Warriors and Kochi had some good catches. Kochi took home boy S Sreesanth for USD 900,00, VVS Laxman (USD 400,000), Rudra Pratap Singh (USD 500,000), Mahela Jayawardene (USD 1.5m) and Brendon McCullum (USD 475,000).
Pune bought Yuvraj Singh (USD 1.8m), Graeme Smith (USD 500,00) and Robin Uthappa ($2.1m).
Chennai Super Kings is the only team not to open their account in the first session.
Bollywood superstar Shah Rukh Khan's Kolkata Knight Riders, which had been among the bottom-placed teams in the first three editions of IPL, made some smart buying to net Gambhir, big-hitter Yusuf Pathan (USD 2.1m) and South African star Jacques Kallis (USD 1.1m).
Seated eight to a table at the over 7,000 sq ft pillar-less Mysore Hall of ITC Royal Gardenia Hotel here, were the who's who of India's business, Bollywood and cricketing world. Liqour baron Vijay Mallya, his son Siddharth and Anil Kumble were representing the Royal Challengers Bangalore team while Nita Ambani was at the forefront for Mumbai Indians' bidding. Bollywood stars Shilpa Shetty and Preity Zinta were present for Rajasthan Royals and Kings XI Punjab.
The much-awaited IPL auction potboiler had a stirring start with four teams locked in a fierce battle to corner gritty Indian opener Gambhir, who led Delhi Daredevils last season.
Gambhir was at a lowest base price of $200,000, but the moment renowned auctioneer Richard Madley called Gambhir's name, it was a mad scramble for eight minutes.
An intense race followed to get him with five teams -- Kochi, Pune, Mumbai Indians, Royal Challengers Bangalore and Kolkata Knight Riders -- furiously challenging each other.
In fact, it was Subroto Roy's Pune Warriors who had bid first for Gambhir, before Mumbai and Bangalore joined the fray. Kolkata entered the scene at $2 million and then pitched in aggressively to snatch Gambhir away.
Gambhir surpassed Kevin Pietersen and Andrew Flintoff, who were bankrolled by Bangalore and Chennai two years back for $1.5 million each.
Pietersen, who came as a star in the IPL second season, was valued at just $650,000 this time by Deccan Chargers.
However, the shocker at the auction was when the worst fears came true.
Ganguly, who had a nightmarish stint with KKR as captain and player, was the first to go in the unsold basket.
Interestingly, Ganguly, who was the oldest Indian player up for auction at 38 years and six months, had increased his base price from $200,000 to $400,000, which is the highest bracket reserved for marquee players in the league.
Knight Riders were clearly not interested in Ganguly as he was not retained for this season.
As Ganguly's name was called, there was a eerie silence in the room and the spotlight was on the Knight Riders' table. The KKR team think tank looked down as Ganguly's name was repeatedly called before he went unsold.
It is speculated that the former India captain might join one of the new franchisees as player-cum-mentor like Shane Warne is for Rajasthan Royals.
There was more surprise in store as Ganguly's KKR teammate Chris Gayle, who was in the USD 400,000 bracket, also met his fate.
For a time it looked as if VVS Laxman, who had also increased his base price, would too go unsold, but new team Kochi thought it wise to take the renowned Test batsman for the base price of USD 400,000.
Rahul Dravid, who had his share of trouble with Royal Challengers Bangalore, fetched a slightly higher price than his base tag of USD 400,000 with Rajasthan Royals shelling out USD 500,000 for the former India captain.
Royal Challengers did not bid for Dravid.
Australian Andrew Symonds, who had retired from international cricket, was bought by Mumbai Indians for $850,000. Symonds and Harbhajan Singh, one of the four players retained by Mumbai Indians, will now be playing for the same team. The two have been involved in some vicious on field spat after Symonds accused the Indian off-spinner of racially abusing him in the controversial Sydney Test.
New teams Pune Warriors and Kochi had some good catches. Kochi took home boy S Sreesanth for USD 900,00, VVS Laxman (USD 400,000), Rudra Pratap Singh (USD 500,000), Mahela Jayawardene (USD 1.5m) and Brendon McCullum (USD 475,000).
Pune bought Yuvraj Singh (USD 1.8m), Graeme Smith (USD 500,00) and Robin Uthappa ($2.1m).
Chennai Super Kings is the only team not to open their account in the first session.
ICC World Cup 2011 gets insured for Rs. 600 crore
Ahead of the cricket world cup this year in the Indian subcontinent, ESPN has taken insurance cover for the ICC World Cup 2011 for Rs. 600 crore.
New India Assurance will provide insurance cover against terror and adverse weather. BCCI will take additional insurance cover for all 8 Indian venues. The World Cup begins on February 19.
The 2011 ICC Cricket World Cup will be the tenth Cricket World Cup, and will be hosted by three South Asian Test cricket playing countries; India, Sri Lanka and Bangladesh. It will take place during the months of February and March 2011, with the first match being played on 19 February 2011.
29 matches out of 49 will be played in India including one quarterfinal, semi-final and final, 12 matches in Sri Lanka including one quarterfinal and semifinal and eight matches in Bangladesh including two quarterfinals.
The tournament begins in Mirpur, Dhaka, on 19 February with the much-anticipated opener between co-hosts Bangladesh and India.
New India Assurance will provide insurance cover against terror and adverse weather. BCCI will take additional insurance cover for all 8 Indian venues. The World Cup begins on February 19.
The 2011 ICC Cricket World Cup will be the tenth Cricket World Cup, and will be hosted by three South Asian Test cricket playing countries; India, Sri Lanka and Bangladesh. It will take place during the months of February and March 2011, with the first match being played on 19 February 2011.
29 matches out of 49 will be played in India including one quarterfinal, semi-final and final, 12 matches in Sri Lanka including one quarterfinal and semifinal and eight matches in Bangladesh including two quarterfinals.
The tournament begins in Mirpur, Dhaka, on 19 February with the much-anticipated opener between co-hosts Bangladesh and India.
Subscribe to:
Posts (Atom)