Briefly Business

India to get Swiss bank details from Apr

NEW DELHI: India will be able to access banking information from Switzerland in specific cases beginning April 1,2011,Parliament was told on Tuesday. India and Switzerland had signed an agreement on August 30,2010 to amend the Double Taxation Avoidance Agreement DTAA to facilitate exchange of information between the two countries. The amended DTAA with Switzerland will enable India to get banking information in specific cases for a period beginning April 1,2011 and thereafter,minister of state for finance S S Palanimanickam told the Rajya Sabha in a written reply.

Per capita income in FY10 up by 14.5

NEW DELHI: The countrys per capita income,often used to measure a countrys standard of living,increased by 14.5 per cent during 2009-10 to Rs 46,492,Parliament was informed on Tuesday. In 2008-09,the per capita income,which measures the income per person in a population,was Rs 40,605,statistics and programme implementation minister M S Gill said in a written reply in the Lok Sabha. The per capita income at factor cost during 2008-09 and 2009-10 are estimated as Rs 40,605 and Rs 46,492,respectively,at current prices, said Gill.

Nalco hopes 23 pc rise in FY11 net

New Delhi: State-run aluminium producer Nalco today said it hopes to clock over 23 per cent rise in net profit for the current fiscal to Rs 1,005 crore on higher metal price. The company,which reported Rs 814.22 crore net profit in FY10,aims to clock Rs 1,098.24 crore net profit next fiscal and Rs 1,252 crore in 2012-13,it said in a communique to the shareholders. Nalco,in which the government owns around 87 per cent stake,also hopes that its net sales would go up by 14.27 per cent to Rs 5,777.31 crore in FY11 against Rs 5,055.66 crore in FY10.

Tata Tele,Intelenet in outsourcing pact

Mumbai: Intelenet Global Services Intelenet on Tuesday announced that it has signed a five-year outsourcing partnership with Tata Group company,Tata Teleservices Limited. This partnership elevates Intelenets position and makes the company the first player to offer finance and accounting processes in the telecom vertical,a press release issued here stated. Intelenet will provide a spectrum of services,covering back-office processes and customer support functions,within the Famp;A BPO domain.

India,China auto CEOs discuss JVs,markets

Beijing: A delegation of 20 CEOs of Indian auto component manufacturing companies Tuesday met with their Chinese counterparts to explore possibilities of exporting their products,and setting up joint ventures and strategic alliances. The CEOs delegation is here to understand the status of Chinas auto supply chain relating to existing levels of technology,quality,productivity and research and development initiatives,said ACMA President Srivats Ram.