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Industrial production up 10.8 per cent in May
New Delhi: The Index of Industrial Production for May 2005 was at 213.0, up 10.8 per cent compared to the corresponding month of the previous financial year, according to an official government release.

The indices of industrial production shows that the mining,
manufacturing and the power sectors grew 3.7 per cent, 11.5 per cent and 10.6 per cent, respectively, during May 2005, compared to May 2004.

The cumulative growth during April-May 2005-06 over the corresponding previous period in the three sectors have been 3.2 per cent, 10.5 per cent and 6.8 per cent, respectively, with the overall growth in the general index being 9.6 per cent. As many as 14 of the 17 two-digit industry groups have shown positive growth.
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PM gives Bhel divestment one more try
New Delhi: Prime minister Manmohan Singh intends to have another round of meetings with the Left leaders and offer them a package deal encompassing Bhel and other related economic issues.

It is learnt that Sonia Gandhi, in her meeting with the Left leaders
last week, had not given an explicit assurance that the Bhel
divestment would be put off for good. Gandhi had merely told the Left leadership that she would convey their concerns to the prime minister and come back with a response.

Among options being explored is that the Prime Minister will assure the Left that no further divestment will occur in the Navratna PSUs provided the Bhel deal goes through.
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India, US to expand high tech trade
New Delhi: India and the US are expanding trade in high technology products and move out of a sourcing relationship to a business relationship.

Dr S Jaishankar, joint secretary, ministry of external affairs (MEA), said that the complexity of Indian industry was going to create additional demand for dual-use technology.

He expressed confidence that a better climate for greater high
technology commerce would be created after the prime minister, Dr Manmohan Singh's forthcoming visit to the US.

High technology trade between US and India has gone up more than three times from $26.78 million in 2002 to $90.06 million in 2004.

Dr Jaishankar also said that the governments of both countries have established an enabling framework for high technology trade.

Robert O'Blake, charge d'affaires at rhe US embassy in India, said the Indo-US partnership in high technology trade would get a shot in the arm with the setting up of a CEO Forum later this year. He saw much greater potential on strengthening trade between India and the US, especially in defence, biotechnology, and nanotechnology.
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No differences with India on Iran pipeline project: Pakistan
New Delhi: Pakistan has reconfirmed its commitment to the over $4-billion Iran-Pakistan-India gas pipeline project project, saying it had no differences with India and Iran over the pipeline.

The Pakistani petroleum secretary Ammed Waqar is leading a delegation for the first joint working group (JWG) meeting that was set up during Aiyar's visit to Pakistan last month. The Pakistani team will hold discussions with the Indian delegation, led by the petroleum secretary, S C Tripathi, on various aspects of the pipeline project.

The JWG will look at options of financing the project in the backdrop of the US sanctions against Iran.

Ahmed said Pakistan would work with India in the larger interest of his country.

The project is expected to be completed by 2009-10 and would allow the daily flow of 150-million cubic meters of gas. Pakistan would take about a third of the fuel and India the rest.
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