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Economy and Politics

The commerce and industry minister called for American corporate leaders and institutions to sensitise the Congress and other decision-makers in this regard.

 
 
The Indian currency had gained 3 paise to close at a four-month high of 45.67 against the US currency on Tuesday.
The Indian currency gained another 15 paise against the US dollar on sustained capital inflows from foreign funds, to touch a four-week high of 45.55.
The Trade Policy Forum, the trade dialogue platform between the two countries, will be co-chaired by visiting Commerce and Industry Minister Anand Sharma.
The Indian currency traded at 45.73 against the US dollar in the foreign exchange market, in tune with equities which were trading higher at on sustained capital inflows.
Steady capital infusion by foreign funds, coupled with rise in key rates by the Reserve Bank if India, helped the Indian currency gain against the US dollar.
The decision to provide higher DA to employees will cost the exchequer an additional Rs 9,303 crore per annum, an official spokesperson said.
 
 
The Confederation of Indian Industries and Chicago Council of Global Affairs held their second Annual US-India Business Opportunities Summit in Chicago on Monday.
The government will almost achieve the 11th Five-Year Plan's infrastructure investment target, the Planning Commission Deputy Chairman said.
Steel Minister Virbhadra Singh said the government is not opposed to the Korean steel major holding a majority stake in the Rs 12,000-crore joint venture.
Production in India, the world's second-largest producer and the biggest consumer, is estimated at 18.8 mt in the current season, ending Spetember 30.
Textiles and apparel firm S Kumars on Thursday said it has raised Rs 235 crore by issuing fresh shares to Qualified Institutional Buyers.
The finance minister, sticking to his conservative estimates from the Budget, said he expects the economy to grow at 9 per cent in 2011-12.
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