High level delegations visit Russia
March 2008, Russia |
Dr. G. Madhavan Nair, Chairman of ISRO
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March 2008 witnessed visits to Russia by several high-level delegations from India, each aimed at promoting different facets of the broad-based and variegated India-Russia bilateral relations.
The first of these was a delegation from the Indian Space Research Organisation (ISRO) led by its Chairman, Dr. G. Madhavan Nair, during March 2-6. Discussions were held during this visit with the Russian Space Agency (RosKosmos) on the proposed India-Russia cooperation on the manned mission to the moon. An area of interest to both sides at the discussions was India’s ‘Human Space Flight’ programme.
Admiral Sureesh Mehta, PVSM, AVSM, ADC, Chairman, Chiefs of Staff Committee, and Chief of Naval Staff of India, accompanied by Mrs. Maria Teresa Mehta, visited Russia at an invitation from his Russian counterpart, the Commander-in-Chief of the Russian Navy, during the month.
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“Year of Russia” in India launched
12 February 2008, New Delhi |
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The large-scale event was organized by the Indian Council for Cultural Relations (ICCR) and the Russian Federal Agency on Culture and Cinematography. In his message, PM said that “the Year of Russia in India would substantially augment our ongoing efforts to deepen our collaboration in all areas of shared interest such as culture, business and industry, science and technology and on major regional and international issues….Such a festival was held almost two decades back.
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Russia's Sistema to invest US$ 200 million in India
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Eyeing huge potential in India's construction and realty market ahead of the 2010 Commonwealth Games, Russian conglomerate Sistema announced plans to develop hotel, offices and residential complexes in major cities with an initial investment of USD 100-200 million.
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Prime Minister Manmohan Singh honoured by FAO
10 April 2008, New Delhi |
The Director General of FAO, Dr. Jacques Diouf conferred 'Agricola Award' on the Prime Minister, Dr. Manmohan Singh, at the function of Global Agro-Industries Forum.
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Prime Minister Manmohan Singh has been awarded the United Nations Food and Agriculture Organization’s (FAO) highest distinction, the Agricola Medal for his contribution to agricultural and social development in India. Dr. Singh is the first Indian Prime Minister to receive the honour. The medal was instituted in 1976.
Previous recipients of the Agricola Medal include King Bhumibol Adulyadej of Thailand, French President Jacques Chirac, Turkish Prime Minister Recep Tayyip Erdogan, Chinese President Jiang Zemin, Pope John Paul II, President Hosni Mubarak of Egypt, Spanish Prime Minister Jose Maria Aznar, and President Johannes Rau of Germany. |
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Record FDI inflows into India
Foreign Direct Investment (FDI) equity capital inflow during the year 2007-08 till February 2008 has reached a record level of US $ 20.1 billion. This is the highest FDI into equity in the country during any year. FDI inflows received in the month of February 2008 are an unprecedented US $ 5.671 billion. The inflows in the month of February have surpassed the inflows received in any single year since 1991 barring last year i.e. 2006-07.
The FDI inflows received in February 2008 is an increase of 712% over that in February 2007. The inflows for April 2006 - February 2007 were US $ 11.88 billion. The inflows for April 2007-February 2008 at US $ 20.137 billion is thus an increase of about 70% over the corresponding period of last financial year. |
Tata Motors seal deal to buy Jaguar, Land Rover for
$2.3 billion
Tata Motors on March 26 inked an agreement with Ford Motor Co. to buy its two iconic British auto brands — Jaguar and Land Rover — for $2.3 billion in yet another topnotch acquisition by a globally ambitious Indian company. “The transfer of ownership to Tata Motors is expected to close by the end of the next quarter, subject to applicable regulatory approvals,” said a statement by the group. “The total amount to be paid in cash by Tata Motors for Jaguar and Land Rover upon closing will be approximately $2.3 billion. At closing, Ford will contribute up to $600 million to the Jaguar and Land Rover pension plans.”
The announcement comes barely a year after the group acquired Anglo-Dutch steel producer Corus for approximately $12 billion to make Tatas the fifth-largest producer of the commodity in the world. Tata officials said Ford will continue to supply Jaguar and Land Rover vehicle components for an agreed period in addition to a wide variety of technologies, such as environmental and platform technologies.
“We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business,” said Tata Group chairman Ratan Tata.
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