No link between Bhopal and investment ties: US
The US has dismissed as incorrect the reports that say it is linking Indias efforts to seek more compensation from the Union Carbide in the Bhopal gas tragedy with the bilateral investment ties. It is committed on building a strong relationship with the country,it said. The assertion that there was linkage between two separate and distinct issues is wrong,is incorrect, Benjamin Chang,deputy spokesperson of the National Security Council in the White House said.
Trying to address Indias concerns on visa fee hike: US
The US is in touch with India to address its concerns over the hike in H1-B and L1 visa fee,which would affect Indian IT companies,a senior administration official has said. We are in touch with the Indian Government and are trying as best as we can to answer the questions they have about this new law, the official,familiar with the ongoing Indo-US talks on this issue,said. The official said there is no secret that the Indian Government has expressed its concern about this new provision but Washington is not aware of India approaching the WTO on the issue.
Cos not addressing investors complaints
The government will prosecute companies that are not addressing investors grievances even as regulators have been asked to remain more vigilant to check malpractices,corporate affairs minister Salman Khurshid told Parliament on Thursday. Replying to queries on investor protection,Khurshid said in the Lok Sabha it was up to Securities and Exchange Board of India to examine information furnished by companies before they tap the capital market. Sebi has to ensure investors interests are protected,he said. Last year,the government intervened in the functioning of the erstwhile Satyam Computer after an accounting fraud.
BSNL now free to buy Chinese telecom gear
The government has lifted restrictions on state-run telecom Bharat Sanchar Nigam (BSNL) buying telecoms gear from Chinese vendors,having addressed security concerns,junior telecoms minister Sachin Pilot said on Thursday. The government had asked BSNL in May last year not to buy equipment from Chinese vendors for use in sensitive regions ,citing national security.
Investment by foreign airlines in domestic carriers
The government is examining a proposal to allow foreign airlines to make equity investment in Indian carriers,civil aviation minister Praful Patel told the Lok Sabha on Thursday. At present,foreign direct investment up to 100% is allowed in greenfield projects in aviation sector,he said in a written reply.
India Inc must seek tough govt purchase order norms
The commerce ministry on Thursday lashed out against the tough norms set by countries in government procurement amounting to an estimated $3 trillion and threatened that India may take up a tit-for-tat approach. I (India) have given my market to everybody in the globe,…(but) I do not get access in their (Western) government purchase,what do I do? additional secretary in the commerce ministry DK Mittal said.