India Calling:Brussels

Organized by Indian Merchants’ Chamber in partnership with Europe India Chamber of Commerce (EICC) and Belgo-Indian Chamber of Commerce & Industry (BICC&I), and in association with Embassy of India in Belgium. The formal inauguration is planned for 30th September evening in the Hotel Hilton Tower .

The main objectives of this conference is to build all-round strategic business partnership between India & EU countries, address institutional & policy framework of India-EU cooperation on emerging issues, identify areas of potential cooperation between Indian and European businesses, strengthen mechanism for joint ventures and technological cooperation, project India and EU as attractive investment destinations with unlimited trade and business opportunities and to enthuse the Indian Diaspora in Europe, to help strengthen the bonds between India and the EU countries, and to forge economic and commercial links in this endeavour. KPMG is the Knowledge Partner of this Conference and they will bring out a Research paper on ‘ India-Europe Business Partnership : A Roadmap to overcome the current global recessionary trench and kick start the recovery’. This document will be released at the Conference. Potential Sectors of India-Europe trade and economic co-operation that will be discussed are Agro and Food Processing, Diamond, Gems and Jewellery, Financial Services, Infrastructure, Information Technology & BPO, Energy (conventional, renewable and nuclear), retailing and Tourism and Hospitality. Attached you will find the Conference Brochure.

The EICC which is partnering the IMC in organising the India Calling, is an effective forum for high level comprehensive policy dialogue on issues such as trade and investment between Europe and India . EICC is now a known chamber of excellence for its quality of service to Indian and European entrepreneurs and corporate world, and we have become as one of the most important trade bodies dedicated to serve the interest of India and Europe . Therefore within the framework of the objectives of the EICC, the above India Calling is a unique opportunity for trade and chambers to participate and enhance your business opportunities. You may also wish to visit websites www.eicc.be and www.imcnet.org for more info.

The Indian Merchants’ Chamber which was set up in 1907 has emerged as one of the leading Chambers of Commerce in India having an excellent global networking with the International business community. It has over 3500 leading companies from different sectors of the economy, and 225 industry & trade associations as members. Besides, it has over 1600 women entrepreneurs and 300 young entrepreneurs. Our Chamber has signed 112 MoUs with leading Chambers of Commerce in over 50 countries.

Those who have confirmed their availability to address the event are: Mr. Karel De Gucht, Deputy Prime Minister of Belgium, Mr. Didier Reynders, Deputy Prime Minister & Minister of Federal Public Service Finance, Belgium . The government of India will be represented by Mr. Anand Sharma, Trade and Commerce Minister, Mr. Kamal Nath, Minisater for Infrastructire development, Mr. Shashi Tharoor, Minister of State of Foreign Affairs and Mr. Vayalar Ravi, Minister of Overseas Indian Affairs. The Conference is taking place just one month before the EU-India Summit scheduled to take place on 6th November in New Delhi and therefore this event assumes importance for EU - India trade and economic relations.

For more information and registration pls visit the link: http://eicc.be/IndiaCallingConference2009.htm or contact:

Cabinet opposed to 60% income tax rate
Thursday 17 September 2009

The cabinet has rejected calls for the reintroduction of a 60% income tax rate to ease the budget deficit, various newspapers report on Thursday.

Budget: main points for 2010
Tuesday 15 September 2009

The measures taken in the 2010 budget focus on ‘creating and preserving jobs, a strong and resilient business community and limiting any further drop in demand,’ the finance ministry said in a statement on Tuesday. read more

Consumer confidence unchanged in September
Friday 18 September 2009

Consumers’ faith in the economy is unchanged in September, compared with August although their willingness to spend money is down slightly, the national statistics office CBS said on Friday.

But there is a slight improvement in people’s view of the economic climate in general, the CBS said.

Mid-size IT companies to ring in pay hikes

BANGALORE: After software giant Wipro lifted freeze on promotions and hikes, although selectively, mid-sized technology firms like MphasiS-EDS, Sonata Software and Symphony Services are also planning to increase salaries and give bonus. read more

Auto players line up new models for festive season

The country’s car and bike makers, led by market leaders Maruti Suzuki and Hero Honda, are increasing production and giving final touches to aggressive marketing campaigns as they rev up for the Navratri-to-Diwali festival season. read more

India’s Rupee Rises to 5-Week High on Fund Inflows, Recovery

Sept. 17 (Bloomberg) — India’s rupee advanced to a five- week high as foreign investors added to holdings of local assets amid signs economic recovery is quickening. read more

Indian export to register 10 % growth: Expert

Coimbatore: Total export from India is expected to register 10 per cent growth during 2010-11, with all sectors including textile showing a revival, top official of Export-Import Bank of India (EXIM) said.

Though export witnessed a marginal decline during the last fiscal due to global recession, the growth during this fiscal (2009-10) would be “either flat or marginally negative,” T C Venkat Subramanian, CMD, Exim Bank said.read more

Auto cos getting ready for festival ride

The country’s car and bike makers, led by market leaders Maruti Suzuki and Hero Honda, are increasing production and giving final touches to aggressive marketing campaigns as they rev up for the Navratra-to-Diwali festival season.read more

Port Authority is investing € 370 million this year

This year, the Port of Rotterdam Authority is investing € 370 million in the port. About half of this is going into infrastructure in the existing port area, whilst the other half is earmarked for Maasvlakte 2. Some hefty investments also need to be made for the medium and long term. Between now and 2020, the Port Authority expects to invest some € 4 billion. The Port Authority’s financial position is solid enough to cushion the downward trend in results in the first six months (- € 8 million) and to allow the continuation of this investment programme.read more

Budget: queen calls for working together
Tuesday 15 September 2009

Everyone who lives in the Netherlands must work together to contribute to the country’s future, queen Beatrix said in her traditional budget day speech on Tuesday afternoon.

‘The government calls on all Dutch citizens and everyone living in the Netherlands to play their part,’ the queen told her audience of ministers, MPs and other dignatories at the Knights Hall in the parliamentary complex in the Hague.more

India to unlock entrepreneurial boom: TiE Delhi

New Delhi: In an interview with Ashok Kumar of IndianExpress.com, Saurabh Srivastava, Chairman Emeritus, TiE - Delhi, tells, how entrepreneurship has come of age in India.

How does TiE function?

TiE is an organisation solely devoted to entrepreneurship. It attempts to encourage, motivate and enthuse people to become entrepreneurs and then nurtures, mentors and guides them towards being successful.read more

As green shoots sprout, hope is the new currency

A year after the collapse of Lehman signalled the beginning of the worst and most widespread recession the developed world has seen since the Great Depression, economists are arguably using the word green (as in green shoots) more often than environmentalists. India, like neighbouring China, suffered only a slowdown rather than a reversal of growth, but here too the desire to spot green shoots is no less avid than in the rest of the world.read more

IT’s back to business as hiring, hikes return

Six months ago, Indian IT looked like it was staring into a long, dark tunnel-one that might take at least a year to get out of. Today, however, IT Information infrastructure company EMC has just announced that it will invest $1.5 billion in India over the next five years, a level of investment from a single company that the sector has not seen in close to two years.read more

Drop in exports slows

Friday 11 September 2009

The decline in Dutch exports to the rest of the world appears to be slowing, the national statistics office CBS said on Friday.

In July exports were down 6% on the year-earlier period, but in June the drop was 12%, the CBS said.

Exports to the EU have been hardest hit. Exports to the rest of the world are almost back at last year’s levels, the CBS said.

The Dutch economy is heavily dependent on exports which is one reason why the Netherlands has been hard hit by the recession.

Obama ‘to push for Dutch G20 position’

Monday 14 September 2009

US president Barack Obama has told crown prince Willem-Alexander he is to personally push for a greater role for the Netherlands in the G20, according to various newspaper reports on Monday.

According to the Telegraaf Obama wants the Netherlands to be a permanent member of the G20 - a grouping of the world’s 20 biggest economies.

‘The president said he valued our imput…. as we said goodbye he said he was an absolute supporter of the Netherlands remaining involved in the G20 and will work towards that,’ the paper quoted the prince as saying.

Willem-Alexander and princess Máxima had a meeting with the president during their trip to New York for the Henry Hudson 400 celebrations.

Pittsburgh summit

The Netherlands is attending the Pittsburgh G20 summit later this month as an observer on the invitation of the US president.

Obama, who is facing strong criticism for his efforts to reform the US health insurance, also praised the Dutch healthcare system, the NRC quoted the prince as saying.

In the Netherlands, health insurance companies must all offer a similar basic package of healthcare agreed on by the government.

India most bullish on hiring plans: Survey

NEW DELHI: India has again emerged as the most optimistic country in terms of hiring plans, with 25% of the employers intending to recruit people
in the next three months. Wholesale and retail trade along with finance, insurance and real estate sectors are among the most optimistic when it comes to hiring intentions.

Global staffing services firm Manpower has said India has a net employment outlook - a measure of recruiting plans - of 25% for the fourth quarter of 2009, the highest among 35 countries surveyed. The employment outlook for the next three months is much higher than 19% forecast for the third quarter of this year.

“Indian employers have absorbed the layoffs conducted in the third quarter and are telling us they will being hiring again at a conservative pace, but most intend to keep their workforces intact through the end of the year,” Manpower India’s MD Naresh Malhan said.

Gold futures higher on overseas cues

MUMBAI: India gold futures were higher on Wednesday taking cues from overseas gold, which stayed above $1,000 an ounce for the second consecutive session, analysts s

International gold prices rose on Wednesday, hovering just above $1,000 per ounce, but below the highs marked the previous day, as investors sold the dollar to buy riskier assets such as stocks and commodities.

The precious metal often moves in the opposite direction to the dollar, as it is seen as an alternative to holding the US currency. “US Inflationary concern will also support the gold prices as the yellow metal is used as a hedge against the rising inflation,” said Tarun Satsangi, an analyst with Bonanza Commodity Brokers
Pvt Ltd.

Indian gold futures are not delivery-based commodities and mirror international trends. “In today’s session, on higher side note, we think it shall move in the range of 15,640 -15,940 level for the day,” said Kapil Gandhi of STCI Commodities.

Dairy giant profits rise 30%

Tuesday 01 September 2009

Dairy cooperative FrieslandCampina booked a 30% rise in net profit over the first six months of this year.

But turnover was down 15% at €4.1bn, due to both lower prices and volumes, the company said in a statement. Net profit was up at €78m because of cost savings and higher income from financial participations, FrieslandCampina said.

The two companies finally merged in December last year to create one of the world’s biggest dairy cooperatives.

CEO Cees ‘t Hart told news agency Novum his biggest concern in the dairy sector is the low milk price being paid to the cooperative’s farmers. Farmers are currently getting €26.04 for a 100 kgs of milk, some 32% less than a year ago, Novum said.

Indian Trade Delegation Visits Netherlands

A 12-member delegation sponsored by the Chemicals & Allied Products Export Promotion Council (CAPEXIL) is sponsoring a trade delegation to visit the Netherlands on the 10th & 11th September, 2009.
CAPEXIL, is a major Export Promotion Council in India and a non-profit organization which was set up in 1958 by the Government of India to facilitate the export of chemical based and allied products. This organization has close to 4000 members across India who cover 16 broad product genres. CAPEXIL is an ISO 9001: 2000 certified organization.

The economy in India is expanding and all the sectors of the economy are showing healthy growth rates. With the increased investments from companies abroad, the quality of products manufactured by the Indian industry is now as per the international standards and norms. To give an example, most of the leading auto manufacturers are setting up base in India and are sourcing their local requirements from India. This is leading to development of a large base of automotive parts producers in India. The total turnover of the tyre industry in India is close to $ 5 billion. The export of auto tyres and tubes from India is in excess of $ 769 million and the exports of rubber manufactured products are in excess of $ 500 million.

The Indian delegation visiting the Netherlands shall comprise of eleven companies and a senior official of the CAPEXIL. The product range covered by the Indian companies and their brief profiles are attached to this letter.
In order to bring the Indian companies in contact with their business counterparts in the Netherlands, the Embassy of India, in cooperation with the CAPEXIL and the Chambers of Commerce at Amsterdam and Rotterdam, will be organizing two meetings for the delegation. One will be held at the Rotterdam Chamber of Commerce & Industry on the 10th September and the other will be held at the Amsterdam Chamber of Commerce & Industry on the 11th September.

For more information call EMBASSY OF INDIA at:
Tel: 070-3622796
Fax: 070-3462594

or email them at:
E-mail: markoff@bart.nl