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  1. 1. NEWS FILE<br /><br /><ul><li>Employment figures show a rise in
  2. 2. Jul-Sept qtr</li></ul>Press Trust of India / New Delhi December 04, 2010<br />Employment in the country rose by 4.35 lakh during the July-September quarter this year, said a survey carried out by the government. The survey, which covered eight selected sectors, said the maximum increase in employment was observed in textile sector including apparel where jobs generated were 2.45 lakh. The textile sector was followed by the IT/BPO sector where employment rose by 1.08 lakh.<br />Employment in the automobile industry and metal industry rose by 0.29 lakh and 0.27 lakh respectively, the survey conducted by the Labour Bureau under the Ministry of Labour and Employment said. This was the eighth quarterly survey conducted by the Labour Bureau to assess the impact of recession on the economy and the job market.<br />The survey covered 2,558 units and establishments by covering 21 centres spread across eleven states and Union Territories. The first survey was carried out immediately after the onset of recession in October 2008, which had said about 4.91 lakh people had lost their jobs in its aftermath.<br />The last survey for the April-June quarter had revealed that the overall employment during the said period rose by 1.62 lakh. The present survey said that in the export oriented units, the employment at the overall level increased by 3.05 lakh whereas in the non-exporting units, it has increased by 1.30 lakh during July-September period as against the April-June quarter this year.<br />Comparing the results of the last four quarterly survey periods -- September 2010 over September 2009 -- the report said that the overall employment has increased by 12.96 lakh. It said the highest increase in employment was recorded in IT/BPO (8.54 lakh), followed by 1.52 lakh in textiles, 1.37 lakh in metals, 1.10 lakh in automobiles and 0.93 lakh in gems and jewellery.<br /><br /><ul><li>Toyota Leads Third Straight Drop in Japan’s Sales
  3. 3. Dec 3, 2010</li></ul>Toyota Motor Corp. and Honda Motor Co., Japan’s two biggest automakers, led the third straight drop in the nation’s monthly auto sales after a government subsidy program ended.<br />Sales of cars, trucks and buses, excluding mini cars, fell 31 percent to 203,246 vehicles in November from a year earlier, the Japan Automobile Dealers Association said in a statement today. Toyota, the world’s largest carmaker, sold 96,874 units, excluding Lexus-brand cars, down 34 percent.<br />Industry wide car sales in Japan may plunge 23 percent in the six months started October from a year earlier, after a government subsidy for fuel-efficient cars ended Sept. 8, according to the Japan Automobile Dealers Association.<br /><br />Indian API Exports to More <br />Than Double by 2013-14<br />Published on Wed, Dec 02, 2010 at 19:47 <br />The market-size for the Active Pharmaceutical Ingredients (APIs) is expanding rapidly and India in all likelihood may double its exports within a couple of years, opined Mr Prasad Mangipudi, Vice President, API Global, Aurobindo Pharma at the ongoing CPhI India Conference Series 2010.<br />While speaking at the South Asia’s largest three-day pharmaceutical event organised by United Business Media (UBM) at Mumbai on Wednesday, Mr Mangipudi said, “The markets for API are one of the most rapidly developing among the pharmaceutical industry. Currently, the API market in India stand at USD 10-12 billion out of which, exports account for about USD 5 billion. On the other hand, world API market stands at USD 35 billion. By 2013-14 the Indian API market will be about USD 18 billion and the world market would be USD 53 billion. At the same time, Indian exports would have been increased up to USD 12 billion which is more than double the current size. <br />He added, “However, currently China is the main competitor of India. China has positioned itself as a low cost manufacturing destination and India needs to gear up to catch up with China. India can position itself as the ‘value solution providers’ as understanding the customer need is very important in tapping API market.”<br />Mr Praveen Khullar, Senior Director, Development Centre, Sanofi Aventis Group while speaking the conference said that the global pharmaceutical market currently stands at USD 842 billion. “The Research & Development activities in super generics cost up to 10%. However, there may be decline or stagnation on heavy investments in the R&D. The reason behind this is, there is no block buster invention in last few years.  The competition in normal generics is increasing.” Moreover, he said that Japan is rising as a crucial market for the super generics.<br />An all-time high record number of visitors was witnessed on the first day of the three-day CPhI India, P-MEC, BioPh and ICSE events of UBM India in partnership with Pharmaceuticals Export Promotion Council (Pharmexcil), started from Wednesday at the Bombay Exhibition Centre in Mumbai<br />Boost hope for exceeding $200 b targetExports zoom by 21.3% in OctNew Delhi, Dec 1, DH News Service:Buoyed by ongoing recovery in global demand for Indian merchandise, country’s exports posted a robust growth rate of 21.3 per cent in October this year giving rise to hope that export target of $200 billion fixed for current fiscal may be exceeded.<br /><br />1 DEC, 2010, 06.20AM IST, AMITI SEN,ET BUREAU <br /><ul><li>EU seeks Indian waiver for duty-free imports from Pakistan</li></ul>The European Union has sought India’s support for its proposal to give Pakistan duty-free access to a number of goods into the European market as part of its flood relief package , a demand that has not gone down with the trade and textiles ministries.  “So many countries, including India, are hit by calamities all through the year. We don’t see such packages for them,” a commerce department official told ET, but indicated that a final call on the issue is yet to be taken.  If implemented, the package could give a big blow to India’s textile exports, as more than 64 items of the identified 75 products, belong to the textile category. <br />Since the sops would go against the most favoured nation treatment clause of the World Trade Organization, which lays down that all countries have to be treated the same, the EU has to obtain a waiver. <br />According to EU’s proposal on Pakistan, it would allow duty free import of 75 items for three years starting January 2011 amounting to almost 900 million euro in import value. “The fact that the aid is being given by taking away business from other nations is unacceptable,” the official said. Textile industry has already sent a representation to the textile ministry highlighting the problems it would face if the proposal gets through as Indian exports would continue to face a tariff barrier of 6-12 %.  A final call on the issue may be taken by the Prime Minster’s Office. “Although the commerce ministry has already expressed its objection, the EU is keeping up the pressure in hope of a favourable verdict,” the official added.  India has the power to spike the proposal, which will be discussed at the WTO this week, by not giving its consent. <br />India had in 2005 opposed a proposal by the 27-country group to give duty free access for textiles to 12 countries including Pakistan as a reward for controlling drug trafficking. The EU was, consequently, forced to withdraw the sop.  “Instead of absorbing additional imports from Pakistan, the zero duty access will only substitute imports from other countries like India with imports from the country,” DK Nair, Confederation of Indian Textiles Industry secretary general, said.  India exported textiles and clothing worth $5.9 billion to the EU in 2009 while Pakistan’s exports totalled $2.2 billion<br /><br /><ul><li>Govt. sets textile export target for 2010-11 at $24.4 billion</li></ul>December 01, 2010<br />Minister of Textiles – Dayanidhi Maran, said that in view of the sharp rise in textile exports during the past few months, the Indian Government had recently set the export target for textiles and clothing products for the current financial year at $24.4 billion, which is nine percent above the last fiscal year’s target of $22.41 billion.The Minister revealed this at a function in New Delhi, after he gave away the Shilp Guru Awards and National Awards to expert craft-persons and weavers. Textile and clothing exports grew by 11.5 percent to $7.57 billion during the initial four months of the current fiscal, as against the $6.79 billion worth export during the corresponding period of last year.<br />While speaking on the handloom and handicraft industry’s contribution to the nation’s economic development, he said that the sector possesses massive potential to provide productive employment to several craftsmen and also to bring in valuable foreign currency to the country by means of exports. Both the sectors jointly employ around 12 million workers, and bring in foreign exchange of over Rs 100 billion into the country’s economy, each year.  Textiles accounted for about 13 percent of the country’s overall exports for 2009-10, and had been valued at $176.5 billion.<br /><br />Sensex up nearly 200 pts; Reliance Industries spurts<br />2010-11-29 12:05:04<br />The market, which pared some of its early gains in mid morning trade, has surged higher again thanks to some strong buying at several front line counters now. Oil stocks have moved up sharply. Information technology stocks are also trading notably higher.<br />Select bank, healthcare and capital goods stocks have posted smart gains. Automobile stocks are edging higher after a subdued start. Power and metal stocks have also come off their lows. Realty stocks have regained a significant portion of lost ground thanks to buying at lower levels.<br /><br />NOV 29, 2010<br />Korea Expected to Become 7th Largest Exporter This Year, Top US$1 Trillion in Trade Volume in 2011<br />Thanks to growth in newly emerging economies, Korea is set to become the world's seventh largest exporter in 2010 moving up two spots from a year earlier. And 2011 should be a record-breaking year as exports are estimated to top 500-billion US dollars for the first time while the trade volume is also on course to exceed the 1-trillion dollar mark.The largest growth in exports will come from newly emerging markets such as China and South America while the North American and Japanese markets are also expected to grow. Key sectors to benefit from the boost in trade include automobile parts and the IT industry.<br /><br />Volkswagen appoints Dr John Chacko<br /> New Delhi, Nov 27: <br />German automobile manufacturer Volkswagen Group has appointed Mr John Chacko as the Group Chief Representative, President and Managing Director of Volkswagen India Pvt Ltd, with effect from December 1. Mr Chacko will succeed Joerg Mueller (48), who has recently moved on to a new responsibility at the newly formed Volkswagen Group Trucks Division.  The 58-year-old Chacko had played a significant role in the India operations of the Group as the Technical Managing Director of Volkswagen India, the company said in a release yesterday.<br />An engineer with a B-Tech degree from IIT Madras, Chacko has been a part of the Volkswagen Group since 1978. Previously, as Technical Project Leader for Volkswagen's Project India, Chacko played a key-role in the decision making process towards Volkswagen Board's resolution to take the step into the Indian Market with a full-fledged production base, it said. The Delhi-born Dr Chacko has also played a key-role in the successful setting-up of the Group's production facility near Pune in the Chakan Industrial Park. His experience and expertise in the Indian auto industry will add great value as the company enters its tenth year in India, it added. ''I am excited as well as looking forward to the challenges in my new role. India is a strategic long-term growth market for the Volkswagen Group and I am confident of successfully steering the Group towards establishing a prominent presence in the Indian automotive market with the support of every member of the Volkswagen India family,'' Dr Chacko said.<br /><br /><ul><li>S. Korea's auto exports to Eastern Europe surge this year</li></ul>News Date: 26th November 2010<br />South Korea's auto exports to Eastern Europe rose sharply in the first 10 months of this year thanks to an economic recovery in the region, a local automobile association said Thursday.During the January-October period, South Korean car makers' auto exports to Eastern Europe, including Russia, reached 190,700 units, a more than two-fold gain from 83,997 units a year ago, according to the Korea Automobile Manufacturers Association."The 2008 financial crisis depressed the Eastern European auto market, but a full recovery in the market this year increased South Korean car makers' shipments there," an industry source said. The largest exporter to Eastern Europe among the local car manufacturers was Kia Motors Corp., a subsidiary of Hyundai Motor Group which shipped 61,805 units in the 10-month period, up 98.5 percent form a year ago.South Korea's biggest car maker, Hyundai Motor, saw shipments to the region rise 177.9 percent to 57,795 units, and GM Daewoo Auto & Technology Co. exported 49,738 units, up 97.5 percent from a year earlier. Shipments of Renault Samsung Motors Co., the South Korean unit of French automaker Renault SA, more than doubled to 11,419 units.<br />Exports of Ssangyong Motor Co., the country's smallest car maker, rose more than seven fold to 9,762 units. Russia was the biggest importer of South Korean automobiles during the period with 155,324 units, a more than two-fold advance from 66,803 units a year earlier. Russia was followed by Ukraine with 12,250 units and Azerbaijan with 6,441 units.<br />Kia's Pride compact was the best selling car in the Eastern European market with 33,366 units, trailed by Hyundai's Click compact with 32,780  units and Kia's Forte compact with 13,835 units, according to the association. <br /><br /><ul><li>M&M to acquire 5.5-per cent Tech Mahindra stake from BT</li></ul>25 November 2010<br />Automobile major Mahindra & Mahindra (M&M) announced today that it will be acquiring an additional 5.5 -per cent stake in its joint venture, Tech Mahindra, from its partner, the BT Group Plc, for an undisclosed sum. M&M already has a 43-per cent stake in Tech Mahindra, while the BT group has less than a 30 per cent stake. At current prices, the 5.5 per cent sale would fetch the British group a little less than $100 million.<br />However, the Indian company has agreed to grant BT a waiver of its pre-emption rights, enabling the latter to sell the remaining shares to other investors. BT is looking to raise funds to meet its pension deficit. But the British firm said today that it will continue to have an equity stake in Tech Mahindra at least for some more time.<br /><br />Volvo Introduces XC60 in India<br />NOVEMBER 24, 2010, 7:33 A.M. ET  <br />The Indian unit of Swedish luxury car maker Volvo Car Corp. Wednesday introduced the XC60 sport utility vehicle, priced at 3.95 million rupees ($86433), to compete with bigger rivals BMW AG and Audi AG, in this rapidly growing automobile market.<br />Paul de Voijs, Managing Director, Volvo Auto India at the launch of the XC60 sport utility vehicle.<br />"We have got healthy pre-bookings for the XC60," Paul de Voijs, managing director of Volvo Auto India, said. "We have booked more than what one of our competitors has sold so far in the year."<br />The XC60 will help Volvo strengthen its position in the Indian luxury automobile market where it trails BMW, Audi and Land Rover. The SUV will compete with Land Rover's Freelander II, BMW's X3, Audi's Q5 and Mitsubishi Motor Corp.'s Montero.<br />India Real Time<br />India Embraces the SUV<br />Volvo Auto India said it is importing the XC60 as a completely built unit from a factory in Ghent, Belgium.<br />