Delhi trade fair to have 6,000 exhibitors

Hall no 6 in , ,

New Delhi, Nov 13 (IANS) The 32nd India International Trade Fair (IITF) opens here Wednesday with over 6,000 exhibitors from India and 21 other countries.

President Pranab Mukherjee along with Mikhail V. Myasnikovich, the prime minister of Belarus — which is the partner country — will inaugurate the 14-day event at Pragati Maidan.

As many as 250 foreign exhibitors from countries like Afghanistan, Pakistan, China, Turkey and Thailand, to name a few, would showcase their products.

According to the India Trade Promotion Organisation (ITPO), which organises the show, IITF is the largest integrated trade fair in India.

The first five days of the fair (Nov 14-18) will be reserved for business visitors. The fair opens for the general public Nov 19-27.

Tickets for business visitors will be available at 26 Delhi Metro stations from Wednesday while those for general public will be available from Nov 19.

The tickets are priced at Rs.50 for adults and Rs.30 for children on weekdays and Rs.80 and Rs.50 respectively on weekends.

South Africa is the focus country at the IITF.

via Delhi trade fair to have 6,000 exhibitors.

Spotlight On Small Business Development

The main entrance to the International Convent...

The 37th International Small Business Congress, taking place in Johannesburg from 15-18 September, will help to chart the way for small business development in South Africa, with a particular focus on emerging industries.

Briefing journalists in Cape Town on Monday, Trade and Industry Minister Rob Davies said the congress would provide a platform “to benchmark and draw lessons from both the developed and developing countries with a view of sharpening policy development and high impact programmes in the South African SMME sector”.

It will be the first time that the congress is held on the African soil, and more than 1 000 international delegates are expected to descend on the Sandton Convention Centre to discuss the future and role of SMEs in the global economy.

International Small Business Congress president Catherine Swift will be joining speakers from South Africa, Canada, England, Nigeria, Malaysia, Northern Ireland, Cameroon, Japan, France, Mauritius, Sierra Leone and India.

The theme of the congress will be “Fostering small business in new and high-potential industries worldwide”.

Davies said this theme was “of particular importance to South Africa, especially as we widen the market for South African goods and services through stronger focus on exports to the region and other economic groupings such as Brazil, Russia, India, China and South Africa (BRICS).

via allAfrica.com: South Africa: Spotlight On Small Business Development.

Small Business Congress

CAPE TOWN/SOUTH AFRICA, 11JUN2009 - Rob Davies...

The 37th International Small Business Congress, taking place in Johannesburg from 15-18 September, will help to chart the way for small business development in South Africa, with a particular focus on emerging industries.

Briefing journalists in Cape Town on Monday, Trade and Industry Minister Rob Davies said the congress would provide a platform “to benchmark and draw lessons from both the developed and developing countries with a view of sharpening policy development and high impact programmes in the South African SMME sector”.

It will be the first time that the congress is held on the African soil, and more than 1 000 international delegates are expected to descend on the Sandton Convention Centre to discuss the future and role of SMEs in the global economy.

International Small Business Congress president Catherine Swift will be joining speakers from South Africa, Canada, England, Nigeria, Malaysia, Northern Ireland, Cameroon, Japan, France, Mauritius, Sierra Leone and India.

The theme of the congress will be “Fostering small business in new and high-potential industries worldwide”.

Davies said this theme was “of particular importance to South Africa, especially as we widen the market for South African goods and services through stronger focus on exports to the region and other economic groupings such as Brazil, Russia, India, China and South Africa (BRICS).

via Spotlight on small business development – SouthAfrica.info.

Global economy

Nagpur branch of Reserve Bank of India. I took...

The storm clouds are gathering once again. After a brief reprieve, the global picture is again starting to look nervous reminding us that the ghost of the 2008 financial crisis is still with us. Crucial elections this past weekend in Greece and France have pushed Europe back into uncertain times. A highly fractured mandate in Greece has thrown the nation into turmoil and a shift of power in France has raised questions over the fate of the European fiscal austerity pact.

 

The result has been a sharp rise in risk aversion across global markets this week. On Tuesday, the benchmark equity index in Greece tumbled to the lowest levels in 20 years. Greece was not the only market to tumble. France, Germany, Italy all saw a sell-off in equities reflecting the nervousness that has once again gripped equity investors who seem to be shunning risk assets. For India, this does not bode well. Global investors, rightly or wrongly, tend to bunch risk assets together. And so a risk-averse environment is unlikely to leave India untouched.

 

The return of risk aversion is evident in the bond markets as well. As investors sought safety, money returned to US treasuries and German bunds which are now seen among the safest assets available. German bund yields, which move inversely to prices, have dipped this week. At the same time, US managed to sell 3-year treasuries at the lowest yield in 3 months – a reflection of strong demand for these “safe assets”. This is bad news for capital flows coming into India through portfolio investment. Investors may not pullout money from Indian equity markets but they may not bring in any fresh money either.

 

The currency markets are seeing a ripple effect as well. As talk of a possible Greece exit picked up once again, the Euro tumbled. The Euro fell below 1.30/$ – a level that the single currency has held on to since January. The fall in the Euro has a direct bearing on all emerging market currencies including the Rupee. As the Dollar strengthens, all currencies adjust to the strength in the Dollar. And so the Rupee has fallen back towards 53.50/$ despite strong intervention from the Reserve Bank of India just last Friday. In the light of the Euro fall, it seems futile for the Reserve Bank of India to try and defend the currency especially at a time when forex reserves are anything but abundant. Yet the markets do expect the RBI to continue supporting the Rupee to some extent.

 

In all of this, the silver lining may lie in the decline in commodity prices. As concerns around the global economy rise, commodity prices have fallen as well. So crude oil prices have slipped to their lowest levels in 6 months. This comes as a relief to a country like India which is grappling with a wide current account deficit. A large chunk of our import bill is on account of oil imports and even a marginal decrease in oil prices is positive for India. Unfortunately some of the benefits of lower oil prices are taken away by the weaker currency. Still lower commodity prices are perhaps the only silver lining in an otherwise worrying global scenario.

 

All eyes are now on Europe but also on economic data from the US. Will the political turmoil is Greece die down? How well will France’s new leadership work with the German leadership? And will economic data suggest a moderation in the US economy? Will the appetite for risk assets among global investors return? All questions that will remain crucial for India and indian investors in the days ahead.

via Global economy: What gloom means for India, Sensex, rupee.

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Dubai exports driven by free zones

Dubai - Internet City and Media City

Businesses operating from free zones in Dubai now drive a full 40 per cent of the emirate’s Dh217 billion (US$59bn) export market as the importance of the economic clusters continues to grow.

Companies based in these economic hubs exported or re-exported Dh86bn worth of goods during the first half of the year.

That compares with Dh131bn worth of direct exports and re-exports from local businesses outside the free zones, according to Dubai Exports, an agency under the Government’s Department of Economic Development.

“The start of this year has been very promising, particularly in terms of trade and exports for Dubai,” said Saed Al Awadi, the chief executive of Dubai Exports. “Exports are continuously growing, with some products showing high potential to expand further.”

India alone commanded a 45 per cent share of the value of total exports from Dubai during the first six months of the year, which is up from an average of 40 per cent for all of last year. The country’s appetite for gold and jewellery has helped to make it the top export destination for the emirate.

Switzerland is another popular export destination for the same reason. India and Switzerland together accounted for 87 per cent of Dubai’s precious-metals exports last year.

Demand for Dubai’s commodities has been growing globally as more investors flee to what they perceive are safe alternatives to local stock markets, which have been volatile of late.

Exports of prepared food products, chemicals and cement have also been strong and are expected to grow further, said Mr Awadi.

But the growth of trade from Dubai’s free-zone businesses, in particular, illustrates how much of an effect these companies are having on the local economy.

The first free zone, Jafza,opened 26 years ago at the port of Jebel Ali. This hub, along with others that were launched about that time, were “started initially to promote re-export”, says Jitendra Gianchandani, the chairman and managing partner of Jitendra Consulting Group, which advises businesses about free zones.

Yet many business consultancies have also popped up in newer free zones in recent years.

While the turnover of these consulting services are not included in Dubai Exports data, they are also having a major effect on the local economy, experts say.

More than 50 free-zone companies in the information and communications technology sector alone have expanded their operations this year, said Malek Sultan Al Malek, the managing director of Dubai Outsource Zone and Dubai Internet City.

via Dubai exports driven by free zones – The National.

Cochin Port invites bidders for free warehousing zone

Cochin Port Trust

KOCHI: Cochin Port Trust (CPT) on Thursday issued a notice inviting expression of interest to set up a free trade warehousing zone (FTWZ) at Willingdon Island. The last date for submission of expression of interest is November 21, 2011.

The CPT will offer 102 acres of land located at the southern end of the island to set up a port-based FTWZ. Even though ports like Mumbai already have a FTWZ, the CPT aims to develop it as a full-fledged international logistics hub, along the lines of Jurong in Singapore and Jebel Ali in Dubai.

via Cochin Port invites potential bidders for warehousing zone – Times Of India

Indian IT companies will flock to Hamriya Free Zone

The interior of a building in the Technopark, ...

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More Indian IT companies are flocking to the UAE to capture a share of the mobile applications and related IT services  currently booming in the region.

Speaking to Emirates 24/7, Dr Rasheed Al Leem, director general of Sharjah Sea Port, Customs and Hamriya Free Zone, said he expects more Indian IT companies to flock to the UAE as a follow up of a memorandum of understanding signed between the Hamriya Free Zone and Technopark, Thiruvananthapuram, Kerala. “Currently, there are 5,500 companies from 137 countries operating in the Hamriya Free Zone and 1,448 companies are from India.”

Neologix Software Solutions of India has launched their Middle East operations, the first offspring of the Hamriya Free Zone-Technopark  partnership. A memorandum of understanding between the two entities was signed recently for IT cooperation. “India is the second biggest investment destination for the UAE and as per recent announcements, the UAE will be investing several billion dirhams in India.”

via ‘Indian IT companies will flock to Hamriya Free Zone’ – Emirates 24/7