India, Japan trade to touch $15 bn by 2010
New Delhi: Trade between India and Japan is poised to double by 2010 from the current $7.5 billion, according to the Confederation of Indian Industry (CII).
This could be achieved if both the countries look at raising the number of items that India exports to Japan under the Comprehensive Economic Partnership Agreement (CEPA), which is currently under negotiation, CII said in its study. India mainly exports gems and jewellery, marine products, minerals and textile products to Japan. Exports could be increased substantially as Japan has very low import duties on most goods.India imports machinery, transport equipment, electronic goods, chemicals and metal products from Japan.
EPFO turns to NIC for modernisation
New Delhi: The modernization of the Employees Provident Fund, which has 40 million subscribers across the country, is now back in the hands of a government body - after Rs 60 million and seven years spent on a private consultant.
'Reinventing EPF' was launched in 2001 as a way to modernize one of the world's largest social security organisations to manage its corpus of over Rs 2 trillion through computerisation of records, distribution of smart cards and access to online accounts, as well as faster processing of withdrawal claims. The cost of the entire project for implementation in 120 sites is estimated at Rs 9 billion. Siemens Information Systems Limited (SISL) bagged the contract for executing the project at six sites for Rs 60 million.
Government extends NELP-VII bid date to 25 April 2008
The government has extended the bid date for 57 oil and gas blocks on offer under the latest round of the New Exploration Licencing Policy (NELP-VII) by a few days to 25 April 2008 from 11 April 2008.
The extension of the bid date is due to revision of the promotional roadshows in Singapore and Australia. The government is likely to complete bid evaluation, award and signing of production sharing contracts by July-August 2008.
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