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India, China target trade, set joint military drills during visit by Indian prime minister (IHT, January 14)
Chinese and Indian leaders agreed Monday to a second round of joint military exercises and raised their target for two-way trade by billions, underscoring growing interaction between the two Asian giants and rising economic powers. Prime Minister Manmohan Singh's three-day visit to China, the first by an Indian prime minister in five years, lends new vitality to the sometimes strained relationship between the two, whose booming economies are increasingly driving world trade. Together, their population of nearly 2.4 billion accounts for one-third of humanity.

PM for more China trade (Hindustan Times, January 14)
India and China had to work together to create a level economic playing field by addressing issues like non-tariff barriers, IPR protection and market-related exchange rates, Prime Minister Manmohan Singh stressed on Monday. Addressing an India-China economic, trade and investment "summit" meeting, the Prime Minister said the challenge was to diversify India's export trade basket to China. "I would like to assure this gathering that both governments will work together to put in place an enabling environment for greater trade, investment and economic interaction," he promised.

India's industrial growth sharply slows to 5.3 percent in November (IHT, January 11)
India's industrial growth sharply slowed to 5.3 percent in November, pulled down by a contraction in the consumer goods sector, according to government data released Friday. Slower growth of exports, which have been hit by a stronger rupee, also appeared to have contributed to the slowdown. The Index of Industrial Production rose 5.3 percent in November from a year ago, according to provisional data from the Central Statistical Organization. That was lower than a 12 percent expansion in the preceding month and 15.8 percent growth in the same month a year ago.

India, China to explore possibility of RTA (Economic Times, January 14)
India and China on Monday agreed to explore the possibility of starting talks on a regional trade pact as the world's two fastest growing economies seek to enhance commerce to $60 billion by 2010. "Against the backdrop of accelerating regional economic integration in Asia, the two sides agree to explore the possibility of commencing discussions on a mutually beneficial and high-quality regional trading arrangement that meets the common aspirations of both countries and will also benefit the region," according to a declaration issued after a meeting of Prime Minister Manmohan Singh and Chinese premier Wen Jiabao.

China's global trade surplus jumps to record level (IHT, January 11)
China's global trade surplus soared nearly 50 percent in 2007 to a record, despite safety worries about Chinese products and a slowdown in export growth late in the year, according to government data released Friday. The sharp rise could add to pressure on Beijing to act on currency controls and import barriers, possibly giving ammunition to U.S. lawmakers who are calling for trade sanctions.

The future of India-China trade (Economic Times, January 14)
Economic ties between India and China are rapidly emerging as one of the most important bilateral relationships in the world. We address three questions of utmost interest to policy makers in both countries: Is the current magnitude of trade between India and China too little or too large? Should India grant Market Economy Status (MES) to China? Finally, what are the prospects for investment links between India and China? Regarding the magnitude of India-China trade, several observations are in order. First, trade between the two countries has grown very robustly. Each country's aggregate international trade is expanding by 23-24% annually. In comparison, India-China trade grew at a 50% rate during 2002-2006 and will increase by a further 54% during 2007 to reach $37 billion.

Tigers or Kittens? (IHT, January 8)
The World Bank stunned the world recently when it announced that the economies of China and India are about 40 percent smaller than previous estimates. How is it possible to shrink such large economies so much overnight, turning them from tigers into kittens? And what does it mean for people in those countries and the world at large?

Indian firms 2007 deals soar 150 percent to $70 Bn (Silicon India, January 14)
India companies announced deals worth $70 billion in 2007, which is an increase of 150 percent over the previous calendar year, reported the Economic times. Merger and acquisition (M&A) and private equity (PE) deals in India, which totalled $42 billion more than 2006 accounts for about 5 percent of the increase in the value of global M&A deals which rose $870 billion last year.

China warns of tough battle ahead to ease threats to economy (IHT, January 13)
Chinese policy makers will have a tough time in 2008 battling inflation, excess liquidity and rapid investment, China's Vice Finance Minister, Li Yong, said on Sunday. China has taken a series of measures such as cutting export tax rebates and tightening investment criteria to cool an economy that expanded 11.5 percent in the first nine months of 2007 compared with a year earlier.

Indian Bank registers 61 percent profit rise in Q3 (Silicon India, January 14)
Chennai-based Indian Bank registered a 61.44 percent rise in its net profit of Rs.3.07 billion for the third quarter that ended Dec 31, compared to Rs.1.90 billion for the corresponding period last year. Announcing the results to the media here Saturday, M.S. Sundara Rajan, chairman and managing director, said: "The total business during the third quarter grew to Rs.900.15 billion (deposits Rs.533.17 billion, advances Rs.366.98 billion) from Rs.726.17 billion (deposits Rs.451.57 billion, advances Rs.274.60 billion) posted during the corresponding period of the previous year."

China primed to invest in U.S. sites (IHT, January 13)
Middle Eastern, Russian and South Korean money has poured into New York's real estate market over the past decade. And Chaim Katzap, an entrepreneur, is betting the next big wave of investment will come from China. To tap China's swelling wealth, Katzap started Lion's Property Development Group in September to market high-end U.S. real estate to the country's new ranks of rich. So far the company sells apartments in two high-rises to be built in Manhattan and a third in Brooklyn. Prices in the three buildings average between $850 and $1,288 per square foot, which puts them at the top-end of New York's real estate market.

Inflation is China's next export (IHT, January 11)
Politicians in the United States might soon regret what they have been wishing for. Having long accused Beijing of manipulating its currency to keep Chinese exports inexpensive, thus gaining an unfair trade advantage, Americans might find a troublesome new export from China: inflation.

PM visit boosts India-China ties(BBC News, Jan 15)
Indian Prime Minister Manmohan Singh has ended his three-day visit to China having secured agreements to strengthen economic and military links. Mr Singh met Chinese President Hu Jintao on the final day of his official visit to the capital, Beijing.

India, China pledge to promote nuclear cooperation (Hindustan Times, Jan 14)
India and China sent a clear signal to the rest of the world on Monday that their economic and demographic clout would play a decisive role in shaping the 21st century. Building on a much-improved bilateral relationship, prime ministers Manmohan Singh and Wen Jiabao signed a joint declaration titled "A Shared Vision for the 21st Century" at the Great Hall of the People. In another advance over previous formulations, China supported India's aspirations to play a greater role in the United Nations, including in the Security Council.

US Military Leader Works to Build Trust in China(Voice of America, Jan 15)
The head of the U.S. Pacific Command, Admiral Timothy Keating, is in China for a visit he says is aimed at further strengthening military relations, a task he personally began when he first visited China last May. He also acknowledges there are still points of contention, as VOA's Stephanie Ho reports from Beijing.

UN: Latin America should strengthen ties with India, China(Xinhua, Jan 15)
Latin America should strengthen its ties with China and India, experts from the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) said Monday.In an article entitled Latin America Facing China and India, published by the ECLAC, experts said China and India have been little explored as markets by Latin America, and the partnership between the region and the two countries has yet to be developed.

India, US start high-level talks on defence cooperation(Domain B, Jan 15)
Starting this week, India and the US have begun four days of high-level talks that will focus on expansion of defence cooperation, including production and procurement of arms and equipment, between the two countries. Defence secretary, Vijay Singh, leads the Indian delegation while Eric Edelman, under secretary of defence for policy, heads the US team.

India's Infosys posts 26 percent growth in quarterly profit (IHT, January 11)
India's Infosys Technologies Ltd. said Friday its profit in the most recent quarter rose 25.6 percent, helped by new outsourcing orders and tax refunds. The Bangalore-based company said its net profit rose to 12.2 billion rupees (US$309 million, â'¬211 million) in the October-December period from 9.71 billion rupees in the same quarter a year ago.

German auto electronics firm to invest $26 Mn in India (Silicon India, January 11)
Hanover-based Continental AG will invest $26 million (Rs.1 billion) to build a state-of-the-art automotive electronics plant in Bangalore to add to the six it already operates in the country. "In the next decade, one of the main focuses of the automotive industry will be what are known as affordable cars (in the Rs.500,000 category), especially in growth markets like India and China. To cope with this demand, we have to focus on solutions for the Indian market," Markus Distelhoff, managing director of the company's India operations, said.

Beijing To Realign Telecoms Sector For Competition (Forbes, January 11)
Chinese telecoms stocks experienced a shake-up on Friday in Hong Kong, in the wake of a rally Thursday sparked by news reports that the central government has finally given the green light to restructuring the sector.

China Mobile ends talks with Apple on iPhone handsets (IHT, January 14)
Talks between China Mobile Ltd. and Apple Inc. over the launch of iPhone handsets in China have been called off, officials at the Chinese company said Monday. "We can only say that negotiations have ended for now. We have no other news to report," said Li Honghui, a spokeswoman for China Mobile Communications Corp., the parent of cell phone carrier China Mobile. She declined to comment further.

U.S. to launch clean technology fund in 2008(Reuters, Jan 14)
The United States will press forward with a multibillion-dollar "clean technology fund" this year to help China and other developing countries finance advanced technologies to cut greenhouse gas emissions and other pollutants, a top Treasury official said on Monday.

Treasury's McCormick says China is crucial part of sustainable development work(Forbes, Jan 14)
China is a crucial part of cooperation between the developed and developing world to address climate change and energy-driven development, Treasury Under Secretary David McCormick said today. 'It is no secret to any in this room that no developing country looms larger in this equation than China,' McCormick said at the 2008 West Coast Leadership Dialogue in La Jolla, California.

India Looks to Conclude Talks with IAEA on Nuclear Deal(Voice of America, Jan 12)
Indian officials say they hope to complete talks with the United Nations nuclear agency this month on the country's landmark nuclear deal with the United States. India's foreign secretary told reporters Friday that Indian officials have held three rounds of talks with the International Atomic Energy Agency. He said the discussions are proceeding smoothly, and that they hope to have a final round in the middle of January in Vienna.

Australia reverses plan to sell uranium to India(AFP, Jan 15)
The new Australian government will scrap a landmark deal to sell uranium to India for its nuclear energy programme, Foreign Minister Stephen Smith indicated Tuesday. The deal was struck by former premier John Howard last August, shortly before his conservative government was ousted in elections by Prime Minister Kevin Rudd's Labor Party.

India Reliance Power IPO raises $3 bln in a minute(Reuters, Jan 15)
Billionaire Anil Ambani's Reliance Power raised $3 billion within a minute on Tuesday when India's biggest initial public offering was fully subscribed as investors flock to new issues in the booming economy. The issue was covered 10.5 times at the end of the first day of the issue, which closes on Friday, National Stock Exchange data showed, and the strong demand means the 10.1 percent stake in Reliance Power should be sold at 450 rupees ($11.5) per share, the top end of the IPO's price band.

India, China to work together to combat climate change (Times of India, January 14)
Recognising the challenge posed by climate change, India and China on Monday decided to enhance bilateral technological cooperation to address the issue. After talks between Prime Minister Manmohan Singh and his Chinese counterpart Wen Jiabao here, the two countries also agreed to join the international community in efforts to combat the problem.

Pollution In China (Chemical and Engineering News, January 14)
Next month, China's State Environmental Protection Agency (SEPA) will begin the country's first national survey of pollution sources. Through this census, SEPA plans to identify sources of industrial, agricultural, and residential pollution throughout China. The survey will also tally the number of waste-treatment plants that are operating in the country.

Environmental Science and Research in China: A Snapshot of the Current State (NewsWise, January 13)
Environmental Toxicology and Chemistry (ET&C) recently released a Special Edition containing 34 papers reporting the fate and effects of chemicals in the Chinese environment. This special issue is dedicated to documenting the results of environmental research conducted mostly by Chinese scientists residing in China. This entire issue is open access and is available at the ET&C website at http://www.setacjournals.com. This issue provides an overview of some of the emerging and ongoing environmental concerns precipitated by the explosive growth in the Chinese economy. The articles highlight some of the research that Chinese scientists are gathering to improve and protect the country's ecosystems.

World class fits for new India school (Chicago Tribune, January 13)
When Aarti Kothari decided she needed a top-quality MBA to further her career, her choices at first weren't encouraging. In a country suffering a dramatic shortage of placements for college students, the nation's best business school, the Indian Institute of Management, had more than a hundred applicants for each seat. Lesser programs, strapped for resources, offered degrees of questionable value. Going overseas was an option but only if she could find the nearly $100,000 it would take to pay for a leading U.S. business school degree.

US in talks with govt to open FDA office in India(India Post, Jan 13)
The US is holding discussions with the government to open an office of the Food and Drug Administration (FDA) in India as it makes efforts to improve safety of products imported by the US. Visiting US Secretary of Health and Human Services Michael Leavitt said he had discussed the issue of having a FDA representation in India during his meetings with union ministers here.

United States Department of Agriculture USDA: to promote exports at Food Show in India(Fresh Plaza, Jan 14)
The U.S. Department of Agriculture's Foreign Agricultural Service invites U.S. food and beverage exporters to exhibit their products in the USA Food Pavilion at AAHAR 2008 in New Delhi, India, March 10-14, 2008.

Foreign investors must report U.S. agricultural land holdings(Muskogee Daily Phoenix, Jan 11)
Foreign investors with an interest in agricultural lands in the United States are required to report their holdings and any transactions to the U.S. Secretary of Agriculture, according to Brian Hisey, Executive Director of the Muskogee County Farm Service Agency.

Israeli Agriculture Minister to visit India(The Economic Times, Jan 15)
Israel's agriculture minister Shalom Simhon will be visiting India later this week to look for areas of cooperation and review the progress of three-year comprehensive work plan agreed upon by the two countries in the field of agriculture. Simhon, along with a high-level delegation, will leave for India on his 10-day visit on Thursday.

China to Educate Farmers on Property(Associated Press, Jan 15)
China will step up efforts to educate farmers on their property rights and encourage them to resolve land disputes through legal means, officials said Tuesday, in a push to curb protests over illegal land grabs and inadequate compensation. The campaign will use the media, training classes and traditional propaganda methods such as village banners to make farmers aware of their rights, said Hu Jianfeng, deputy director general of the Ministry of Agriculture.

India's Tata Motors unveils $2,500 car, bringing car ownership within reach of millions (IHT, January 10)
For millions of people in the developing world, Tata Motors' new $2,500 four-door subcompact "the world's cheapest car" may yield a transportation revolution as big as Henry Ford's Model T. The potential impact of Tata's Nano has given environmentalists nightmares, with visions of the tiny cars clogging India's already-choked roads and collectively spewing millions of tons of carbon dioxide into the air.

Volkswagen Plans To Make 110,000 Cars Annually In India (Forbes, January 9)
Volkswagen said on Wednesday it would produce 110,000 cars annually in India from 2009, as it unveiled a small car model at the country's annual Auto Expo in New Delhi. Volkswagen displayed the prototype for its small car, called UP!, and showcased its sport utility vehicle, the Tuareg. Joerg Mueller, president of Volkswagen's Indian operations, said the company would introduce a small car for the Indian roads in 2010.

India posts strong growth in earnings from tourism (Economic Times, January 14)
India's foreign tourism revenues grew by a record 33.8 per cent in 2007 amid a big campaign by the country to draw more overseas visitors.

Groundbreaking Study to Examine Chinese Leisure Travel Preferences, Attitudes, and Activities (Travel Video, January 14)
On the heels of the recent agreement between the United States and Chinese governments to facilitate Chinese travel to the U.S, the Travel Industry Association (TIA) has teamed with The Alfred P. Sloan Foundation Travel and Tourism Center at the University of South Carolina and the Office of Travel and Tourism Industries/U.S. Department of Commerce to conduct one of the largest studies examining Chinese travel preferences. The purpose of the study is to gain a better understanding of the Chinese long-haul travel market, its potential for U.S. destinations and businesses, and Chinese views of the United States in general and as a travel destination in particular.

India To Fashion Tourism Promotion On Malaysian Model (Malaysian National News Agency, January 13)
The Confederation of Indian Industry (CII) wants to tap Malaysian tourism promotion expertise to fashion its ambitious proposed Southern India Tourism Grid to woo more visitors to the south of the country. At least four state governments -- Andhra Pradesh, Karnataka, Kerala and Tamil Nadu -- and the union territory of Pondicherry are planning to jointly promote tourism to give tourists an ideal package when visiting southern India.

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