Umesh Modi Group has entered the liquor business through a joint venture with Italian spirits maker Illva Saronno. The venture, called Modi Illva, will first launch Illva's luxury vodka brand Arctic in India. China's CNOOC has signed an LNG deal with GDF Suez to buy 2.6 million tons of liquefied natural gas. The IMF has projected India's growth at 9.7% in 2010 and 8.4% in 2011, while China is expected to grow faster at 10.5% in 2010 and 9.6% in 2011. Six Indian ministries will decide on increasing foreign direct investment in retail.