India, Russia to sign rash of agreements during Putin's visit
Moscow: India and Russia may sign around 10 agreements during the visit of Russian president, Vladimir Putin to New Delhi visit this week. These will include one agreement on joint production of a multi-role transport aircraft and fifth generation fighter jets.

Russia will build four more additional nuclear power units at Kudankulam nuclear power plant in Tamil Nadu under the joint Indo-Russian political declaration, a joint statement on continuation of civilian nuclear cooperation after the lifting of curbs by Nuclear Suppliers Group.

Bilateral agreement on the joint use and development of Russian GLONASS space based global navigational system, accord on launching the YouthSat university satellite are among the documents expected to be signed during the summit or on the sidelines.

India and Russia are also expected sign an agreement to boost defence cooperation, including the joint development and production of a multi-role transport aircr aft (MTA) and fifth generation fighter jet.
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PM supports continuation on TUFS: Kamal Nath
New Delhi: Commerce and industry minister Kamal Nath said the Prime Minister Manmohan Singh wants the continuation of the Technology Upgradation Fund Scheme (TUFS) for the textile sector beyond March 2007 . Nath was speaking at the 48th Annual General Meeting of Northern India Textile Mills Association.

TUFS which provides interest subsidy for modernization expires in March 2007 and the industry has been pushing for extension of the scheme in the 11th plan period.

He indicated that while extending the scheme it could be modified and the government has already received inputs in this regard from the industry.

Responding to the industry's concerns on trade agreements that India is negotiating, he said the textile industry would be the major beneficiary in all the preferential and free trade agreements.
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Customs duty cut on cement, metals
New Delhi: The Government has decided to reduce customs duty on cement, various raw materials and capital goods.

Customs duty on Portland cements had been reduced from 12.5 per cent to nil while the duty on primary and semi-finished forms of copper, aluminium, zinc, tin and other base metals and ferro-alloys stainless steel has been reduced from 7.5 per cent to five per cent.

The project import rate of 7.5 per cent has been extended to airport development projects and metro rail projects.

Customs duty on inorganic chemicals like halogens, sulphur, carbon, hydrogen, rare gases and alkali metals has been reduced to 5 per cent from 10 per cent.
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