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Home arrow The India Story
The India Story
ASEAN and India to sign FTA in Feb Print E-mail

January 28, 2009
by Bupha Ravirot

 

Association of Southeast Asian Nations (ASEAN) and India are expected to sign Free Trade Agreement (FTA) during the ASEAN summit which is planned to be held in the Thai resort of Hua Hin between February 27-March 1 2009.

This movement is expected to help in boosting investment in India and also trade among the Southeast Asian bloc member countries due to raw materials manufactured by ASEAN members on goods will be exported to India.

According to the Director-General of the Foreign Trade Department, Mrs. Apiradi Tantraporn, if India signs FTA with ASEAN, it will help open up its markets for goods produced by the 10 member countries of ASEAN while tariffs imposed by the New Delhi government will be reduced to zero for 3,666 items by the end of 2012.
 
Among the ASEAN-made goods which will gain from zero tariff are refrigerators, fans, airconditioner parts, jewelry and ornamental goods, rubber products and plastic resins, added Mrs. Apiradi.

Thai exporters wishing to receive tax privileges under the ASEAN-India FTA must ask for certificates of origin for goods from the Foreign Trade Department because items to be exported to India must contain at least 35 per cent raw materials manufactured from ASEAN and India, she said.
 
Currently, only 82 items fall under the Thai-Indian FTA.

 
British report ranks Thailand and India among world's 20 most dangerous place on Earth Print E-mail

December 1, 2008
by Bupha Ravirot

 

Thailand is ranked 7th the among the most dangerous nations to visit on Earth resulting from recent political turmoils, terrorism and other violations, along side with India, Pakistan, Iraq, Afghanistan, and Israel, reported Telegraph Daily Telegraph of UK.

Major political demonstrations and a temporary state of emergency in Bangkok have affected both major airport, Suvarnabhumi and Don Muang airport, many place in Bangkok are found to be dangerous such as the area around the Government House and surrounded area including the area around Metropolitan Police headquarters and Parliament , those places are where people need to avoid. Moreover, Cambodian border fighting have been creating a lot of tensions, as well as frequent attacks and civil unrest in the southern provinces, altogether problems resulting countless  damages.

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NRI deposits go up marginally in Kerala banks Print E-mail

October  6, 2008
by Newsdesk/IANS

 

Deposits by non-resident Indians (NRIs) in Kerala banks went up 6.6 percent in the April-June quarter this fiscal to touch Rs.318.65 billion ($7 billion), bankers’ committee said.”This is up by Rs.1,976 crore (Rs.19.76 billion) in comparison to the corresponding period of the previous fiscal,” said the latest State Level Bankers Committee report, released here Monday.

In the last quarter of 2007-08, the NRI deposits stood at Rs.298.89 billion.

Over the last two years, the growth of NRI deposits has been erratic. After showing a huge increase from Rs.245.34 billion in March 2002 to Rs.333.03 billion in March 2007, it fell to Rs.298.89 billion in March 2008, and then grew marginally in the first quarter of the current fiscal.

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India concludes free trade pact with Asean Print E-mail

August 28, 2008
by Newsdesk/IANS

 

India and the 10-member Association of Southeast Asian Nations (Asean) Thursday concluded a free trade pact in merchandise goods that will pave the way for a free trade area in the region by 2016, officials said. “It is an important milestone for our region,” India’s Commerce Minister Kamal Nath told a press conference here after concluding the far-reaching pact with Singapore’s Industry Minister Lim Hng Kiang.

“It took six years for India to understand the sensitivities of Asean, and for the Asean to understand the sensitivities of India,” said Kamal Nath, explaining why the process took so long. A framework pact has been signed in 2003.

The formal free trade agreement will be signed at the Asean-India Summit in Bangkok in December. The grouping comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The agreement will give Asean companies an enhanced market access to India as well as reduced tariffs in some key exports like palm oil, crude, tea and pepper.

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Indian Achievers Forum event on 20th Sept at Bangkok Print E-mail

Indian Achievers Forum BangkokAugust 27, 2008
by Newsdesk

 

Indian Achievers Forum is an apex body that promotes and encourages commendable achievements globally. The Forum regularly organises International & National level seminars & workshops with the help of its members & associates to promote socially responsible business practice and sustainable development in economic as well as social front in India & abroad.

Indian Achievers Forum is holding “International Achievers Summit” at Bangkok (Thailand) on 20th September 2008 in association with India Thai Chamber of Commerce (ITCC), Thailand on “Emerging India: Promoting partnerships globally”. This Summit would make available to our esteemed Indian and foreign entrepreneurs mutual beneficial opportunities for global partnerships with personal interaction under one-roof in a host of public related sectors like trade & industry, technology, science, hospitality, banking, health, education, social & public services etc.


The proposed Summits at are expected to be attended by eminent personalities, leaders, diplomats, and business delegations form India and other countries. During these Summits selective delegates would be honoured with “INTERNATIONAL ACHIEVERS' AWARD” a symbol of moral boost and distinct stamp of identity.

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An NRI...not me! Perhaps a global Indian Print E-mail

August 25, 2008
by Kul Bhushan

 

Indian Tiranga"An NRI , no, not me! My grandfather came from India but I was 'born in the US' and I'm an American," said Neil whose legal name is Sunil. "I have nothing in common with an Indian who lives in India. Maybe he has something in common with me, as he is trying to live the American lifestyle."

But what about your customs, food, movies? "Customs like marriage....look, my brother met an Italian while studying medicine and he got married to her. I have a Hispanic girlfriend and am learning Spanish right now - not Hindi. Food? Yeah, I like curry but I also like pizza, so what? Bollywood movies...no, not my scene."

Don't you want to visit India, the land of your forefathers especially when some young Americans are going there to work in this economic slowdown? "Maybe, I will visit India for a holiday but cannot even think of working there...the work culture is quite different. Couldn't survive there."

The America-born Indian seems radical but not uncommon.

British Indians have similar but less critical views. Ricky, an upwardly mobile engineer, has forgotten India since his father came to Britain in the 1950s.

"I went to India as a child of four and it was terrible," he says. "I don't want to go there again - not even for a holiday in Goa. I prefer Dubai and may even buy a flat there. Yes, I like Indian food and enjoy Bollywood films and want my daughters to marry an Indian - just like any other father of any other community here."

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Tracking Indian footprints in Southeast Asia Print E-mail

July 29, 2008
by Madhusree Chatterjee/IANS

 

The first rays of the sun cast a metallic glow on the blue-green crater of one of the world’s oldest volcanoes - Gunung Sumeru - in Indonesia. The belief is that the process of creation began from the rock-head that spews billowing columns of lava-laced smoke throughout the year. It is the seat of the Hindu deity of creation - Brahma, and is one of the early Hindu linkages between India and the Southeast Asian nations. The many cultural and religious links between India and Southeast Asia are steeped in the folds of time.

Now veteran filmmaker S. Krishnaswamy seeks to capture on celluloid some of those linkages. The Sumeru is the take-off point for Krishnaswamy’s new 17-episode serial “India Imprints”, which traces the impact of ancient Indian spirituality, philosophy and culture on Southeast Asia that shares a long maritime and trade history with India.

“A large part of the region was colonised by the early Hindus who went to Java, Indonesia, Vietnam, Laos and Cambodia as sailors and traders through the sea route,” explained the filmmaker, who heads the 44-year-old documentary film production house Krishnaswamy Associates credited with movies like “India 5555″ and “Indus Valley to Indira Gandhi”.

“India Imprints”, some episodes of which were screened this month in New Delhi, is sponsored by public broadcaster Prasar Bharati. It was shot by a 10-member crew led by Krishnaswamy and his wife Mohana in locations across Southeast Asia - Indonesia, including in ancient Java and Bali, besides Thailand, Cambodia, Laos and Vietnam.

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Lightweight gold gains popularity in Indian market Print E-mail

July 23, 2008
by Shilpa Raina/IANS

 

Gold BarHeavy bangles, chokers, chains, elaborated pendants and chandelier earrings in gold that were once a sign of prosperity were sidelined by sparkling diamonds. But after more than a decade, the yellow metal has made a comeback in the new avatar of lightweight jewellery. From the mid 1990s when Tanishq launched its diamond collection, the precious stone came within the reach of the Indian middle class. It truly became every woman’s best friend, thanks to its affordable price.

Later, other brands like Nakshatra, Asmi and Sangini popularised the use of diamonds. But, now lightweight gold jewellery is once again in demand and new age women are increasingly going for it because it suits their pockets and caters to their daily-wear needs.

Chanat Sorakraikitikul, director of a Thailand-based jewellery brand Pranda Jewelry, told IANS: “Yellow metal is surely coming back. It is in the limelight and despite hiked prices, sales have increased.”

Comparing the yellow metal with diamond, Sorakraikitikul added: “Every woman loves diamonds. But white can get monotonous and boring, so for a change women are now looking at gold with great interest.”

Gold has always been closely associated with Indian tradition and culture. At marriages, engagements or festivals, exchange of gold jewellery has always been considered auspicious.

“Earlier, gold only meant heavy jewellery, so the teenagers and youngsters had to seek alternatives like diamonds and silver that were chunky, light and attractive at the same time,” said Michelle King, marketing head, Gili that was launched in 1994.

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Delta Elec penetrates Indian market 'invest $50 m' Print E-mail

July 15, 2008
by Bupha Ravirot

 

Delta elec thailandDelta Electronics (Thailand) Plc, the country's biggest listed electronics business penetrate Indian market due to a strong need for electronic products of people. The company is planing to invest about $50 million next year for its expansion in India.

Anusorn Muttaraid, the company's executive director said

''We've already invested about 300 million baht in India and are preparing to allocate $50 million more to set up a new plant in Chennai,''

'India is a very promising market and its tax incentives are very attractive. Our investments are granted a tax holiday for five years and a 50% tax cut for another five years,''

'On top of that, India allows 100% foreign ownership and tax waivers are also available for imported machinery if the plants are located in industrial estates."

Delta Power Solutions India Private Ltd in 2007 the later set up  to assemble market and sell telecom power systems, uninterrupted power supply (UPS) units and other products.

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Indian origin Nishita Shah 19th richest in Thailand Print E-mail

July 12, 2008
by Bupha Ravirot

 

Nishita ShahRecently, Forbes Asia published a Thailand rich list on July, 10 2008 in Singapore. The rankings are almost filled with the same face as in the lists of 2006 and 2007. The Asia rich lists have been sponsored by SG Private Banking (Asia Pacific).

Chaleo Yoovidhya 76-year old, the Thailand richest, worth $4 billion, returns to his number one spot. He is $500 million, thanks to strong global sales of his Red Bull energy drink. Turnover for the energy drink nearly doubled since 2004 to $4.2 billion, and a cola version of the beverage is in the offing.

The second richest separated by $100 million from Thailand's richest. Charoen Sirivadhanabhakdi. The 64-year old beer maker is running up, his wealth grow by $600 million to $3.9 billion. The street vendor's son got rich in whiskey and beer, and took his company Thai Beverage public in Singapore two years ago. Charoen and Chaleo are first-generation entrepreneurs who still hold the bulk of their wealth, an increasing rarity among the top 40.

The notable and outstanding rich woman in all rankings is clearly seen to be Nishita Shah, an Indian origin who is the youngest on the list along with her family, she is ranked No. 19 and worth $375 million. The 28-year old is featured in a profile story in this week's issue of Forbes Asia. She spoke about her plan of launching her own fashion label "Nsha" on three continents at the end of the year as well as helping to manage her family's 140-year old business which includes Thai-listed Precious Shipping as her farther, Kirit Shah, last year made her a  managing director of GP Group.

Nishita was born to be a business woman. To follow her father's steps, she had graduated from Boston University with a degree in business and finance. For four years she learned all about the various companies, visiting most of them.

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Urban Indian tourists opting for special interest relaxed holidays Print E-mail

July 08, 2008
by Madhusree Chatterjee

 

AeroplaneLuxury tourism is redefining itself in urban India with special interest holiday packages to meet the mature market needs in which customers look for “deeper satisfaction” rather than the usual gamut of vacation activities. Such holidays also provide greater freedom to explore destinations at one’s own pace and time.

As the high-end leisure segments of outbound Indian travellers - those holidaying abroad - curtail their holiday durations because of increased work pressure, entrepreneurs and travel firms are going out of their way to come up with emotionally satisfying “short-haul” packages to give customers the best and the most innovative tours that money can buy.

The cornerstones of the new holiday packages on the shelves are “freedom, flexibility, relaxation and space”, unlike holidays of the past when outbound tourists packed in the maximum activities and destinations in their itineraries to make most of the money spent.

“These specialized and short-haul holidays will drive the Indian tourism industry in the future,” Srinivas P., senior vice-president of SOTC’s Special Interest Tours, told IANS from Mumbai.

To cater to the growing tribe of special interest tourists, comprising mostly stressed corporate executives, double-income working couples taking a break from work and affluent baby boomers who have travelled early in life but now want to relax with their children, Six Senses Resorts and Spas, a leading wellness holiday chain, has unveiled a new package called “Destination Spas”.

 

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