Fwd: Releases........pt3

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From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Wed, Feb 17, 2010 at 3:58 PM
Subject: Releases........pt3
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Press Information Bureau
Government of India
* * * * * *
Ministry of Heavy Industries & Public Enterprises
BHEL presents Dividend Cheque of Rs. 364.66 crore
New Delhi: February 17, 2010

A Dividend Cheque of Rs. 364.66 crores towards the interim divided for
the year 2009-10 on the equity (67.72%) was presented to Shri Vilasrao
Deshmukh, Union Minister of Heavy Industries and Public Enterprises by
Shri B.P Rao, CMD, Bhart Heavy Electricals Ltd. (BHEL) here today.
This represents interim Dividend of 110 per cent on the advanced
Equity capital post-bonus for fiscal 2009-10. Shri Arun Yadav, the
Minister of State for Heavy Industries and Public Enterprises and Dr.
Satyanaranyana Dash, Secretary, Ministry of Heavy Industries were also
present on the occasion.

Shri Vilasrao Deshmukh said that the Government needs to protect the
Domestic Power Equipment Industry by putting Custom Duties upto 10 per
cent and special duties (SAD) of 4 per cent on import of power
machines.

CMD, BHEL said that the company has maintained its unmatched track
record of earning profits rewarding investors by paying dividends
uninterruptedly for over three decades without a break. Speaking on
the occasion, he said that the growth momentum achieved by BHEL in
2008-09 is to be accelerated in the current fiscal. At the end of the
third quarter, the company expects to achieve robust growth in future.

Earlier in a meeting with the officials and workers of the HMT Machine
Tools Ltd., the Minister said that the Government is abreast of the
problems afflicting the Public Sector Enterprise HMT and studying all
options available to see the turnaround of the company. He said that
closure of any unit will be the last alternative. HMT will be provided
Government support in coming out of the loss and utilize the expertise
of HMT in making precession tools for Automobile Defence, Aerospace
and General Engineering Industry.

ysk/bs/dk/kol/15:55 hrs.



Press Information Bureau
Government of India
* * * * * *
Ministry of Commerce & Industry
India invites Austria to participate in infrastructure development

ANAND SHARMA INAUGURATES INDIA-AUSTRIA JOINT ECONOMIC FORUM
New Delhi: February 17, 2010

Speaking at the inaugural session of the India-Austria Joint Economic
Forum (JEC), here today, Shri Anand Sharma, Union Minister of Commerce
and Industry, has invited Austria to participate in the creation and
management of world class infrastructure in India. "We expect an
investment of approximately $ 1.5 trillion by 2016-17 for creation and
up-gradation of our infrastructure", he added. He further emphasised
that India has a large skilled human resource base, which can be
combined with Austria's technology and investment to create a win-win
situation for both sides. The JEC was attended by Mr. Josef Proll,
Austrian Vice-Chancellor and Minister of Finance; Mr. Reinhold
Mitterlehner, Austrian Minister of Economy, Family and Youth along
with senior officials and Chambers of Commerce from both the
countries.

During the interaction, Shri Sharma stated that despite the global
economic slowdown, there has been impressive growth in the volume of
bilateral trade. Bilateral trade during the fiscal 2007-08 was of the
order US $ 769 Million and it has jumped to US $ 1193 million during
2008-09. "Post liberalisation India has become a preferred destination
for investments. In the comparative list of countries for FDI
approvals, Austria ranks 31. Total FDI inflows from Austria during
April 2000 to November 2009 were to the tune of US $ 72.14 million",
he added.

On multilateral trade front, Shri Sharma said that India remains
committed to a rule-based multilateral trading system. "Currently
there is a perception of increased costs on account of trade measures
like constantly enhanced standards and complicated regulatory
procedures are perceived as barriers to trade. It is important that
regulations and related procedural costs are minimised through
simplification of procedures / rules for inclusive trade growth", he
added.

The major items of export to Austria are: drugs, pharmaceuticals &
fine chemicals, transport equipments, machinery & instruments, gems &
jewellery, manufactures of metals etc. The major items of import from
Austria are: iron & steel, electronic goods, organic chemicals,
petroleum, crude & products, project goods etc.

The major sectors which attracted FDI inflows from Austria include
electrical equipments, paper & pulp products, mathematical surveying &
drawings, power and chemicals etc.

rj/mrs/dk/kol/15:56 hrs.

--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/