Exim-march-2002

appreciation of the rouble. In Ukraine, In this issue
revenues, reflecting the lagged impact of Success Story: MatrixLaboratories Limited 2002. Second, agriculture growth, whichwas very high in 2001 owing to recovery In other countries such as Armenia, Azerbaijan, Georgia, Kazakhstan, and Moldova, growth is expected to remain activity. In contrast, growth in Belarus and Uzbekistan, is expected to lag behind reflecting the low level of trade linkages restructuring and unfavourableinvestment climate. In Tajikistan, In Russia, fall in earnings from the investment spilling over to other sectors An Overview
of oil prices would help reduce theseeffects. Further, domestic demand is For countries in Eastern Europe and the of CIS and
Baltic region, in general, growth has Eastern Europe
relatively weak, while the Czech Republic front, the surplus on the current account to 5.0% and 4.9%, respectively, in 2003.
administrative barriers to business.
also. Countries in the region also face a boosted FDI inflows. Increasing access to In Estonia, Latvia and Lithuania, institutions, liberalisation of factor and Table: CIS & Eastern Europe - Real GDP Growth, Consumer Prices & Current Account Balance
Real GDP Growth
Consumer Prices
Current Account Balance
(% change)
(% change)
(as % of GDP)
Countries
Eastern Europe
Source: World Economic Outlook, September 2002, IMF. Private Enterprise Partnership
of the IFC
Country/
Project/
Loan from Funding
Business Opportunities
Executing Agency
Brief Scope
Update: Upcoming
Telecommunications and
Postal Sector Reform
Projects
Project/
E-mail: [email protected]: Hinauri Petana,Financial Secretary Nigeria/
Lagos Urban Transport
Project/
Contact: Dr. AnthonyMobereola, SpecialAssistant to the Governor FYR Macedonia/
Municipal and
Environmental Action
Programme/
Albania/
Road Rehabilitation
Project II/
Port of Durres and the FYRMacedonian border, part of Development (EBRD) are givenalongside.
Mongolia/
Second Health Sector
Development Project/
to be of help, if you keep us advised.
(iii) improving access toand utilization of health Country/
Project/
Loan from Funding
Executing Agency
Brief Scope
CONTRACT AWARDS
Lao People’s Democratic
Small Towns
Republic/
Development Sector
Project/
Afghanistan, funded by
Aga Khan Fund for
Economic Development.
secured in Afghanistan,
funded by World Bank.
decentralized anddedicated institutional and Project, secured in Nepal,
funded by World Bank.
Ethiopia/
Harar Water Supply and
Sanitation Project/
secured in Tajikistan,
funded by World Bank.
in Turkey, funded by
World Bank.
Services; and(vi) Technical assistance in Control Project, secured
in Uganda, funded by
Community Forestry
World Bank.
Plantation Management
Project/
secured in Iraq, under
United Nations Oil-for-
Food Programme.
Algeria.
strengthening; (d) projectmanagement.
secured in Nigeria.
Saudi Arabia.
Task Force on
constraints faced by Indian companies are Project Exports
❑ Establishment of Coordinating
• availability of more competitive credit enhancing project exports. This will bean autonomous body to create an identification of projects, intelligencecollection, effective information a key role in setting up such an Agency.
The Task Force has since submitted itswide ranging recommendations to the ❑ Target Multilateral Agency Funded
Projects
• Projects funded by agencies such as ❑ Constitution of High Level Standing
variety of sectors and in diversified markets Committee on Project Exports to
a relatively small number of Indian project exporters are securing contracts, and that constituted by the Prime Minister’s Office to address issues related to project exports, and facilitate the creation of an enabling quantum increase in project exports.
and Development, CentralAmerican Bank for Economic Members of the Task Force
Shri G.S. Dutt, Joint Secretary, Ministry of Finance – Chairman
Development Bank, West AfricanDevelopment Bank, PTA Bank.
Department of Commerce, Ministry of Commerce & Industry Department of Expenditure, Ministry of Finance Capacity Building of Indian Missions
Department of Revenue, Ministry of Finance be set up in Indian Missions to supportproject exports through pro-active The Associated Chambers of Commerce & Industry of India Federation of Indian Chambers of Commerce & Industry identifying and exploitingopportunities, through information Export Credit Guarantee Corporation of India Export-Import Bank of India - Secretariat
Select Contracts Secured By Indian Companies during 2001-2002
CONTRACTS
considered necessary by GOI as amatter of priority in the interests TURNKEY CONTRACTS
Supply and erection of gas turbine generators Electro-mechanical work for an air force base project Heating, ventilation and air-conditioning work for CONSTRUCTION CONTRACTS
by RBI can also be deployed for thepurpose.
Road rehabilitation and rail overbridge project Steel water storage tanks and transportation project SUPPLY CONTRACTS
CONSULTANCY CONTRACTS
(LOCs) extended by GOI tooverseas governments. This will Operation and maintenance of cement plant Modernisation of petroleum refining plant Managing contract for a petrochemical company Study of privatisation of a regional development bank Terms of Reference
❖ Analysis of performance of
❑ Strengthening of ECGC
❑ Strengthening of Exim Bank
Success Story:
year, MLL has achieved a quantumjump in its level of operations Matrix Laboratories
manufacture of anti-depressant drugs.
Exim Bank’s
Recent Developments
Study on “Transaction
in India’s External
Costs of Indian Exports:
As regards imports, reflecting recovery in A Review”
manufacturing activity, non-oil importsrose by 13.62 per cent during April- “Transaction Costs of Indian Exports: A Review” assesses the impact of per cent to US$ 14.35 billion, mainly due P ositive developments in India’s to rise in international crude prices. As a complexities associated with result, overall imports registered a rise of administrative processes, availability of finance and transportation problems.
These developments encompass, inter costs of India’s exports, Exim Bank had alia, surge in foreign trade, emergence period of the previous year. Sharp rise in “Transaction Costs of Indian Exports:An Analysis”, which led to the setting precious stones, capital goods, electronic goods, and edible oils have contributed tothe pick up in non-oil imports during the albeit lower than initially expected,anticipated rise in international exports have registered robust rise during a rise of 17.38 per cent, to US$ 42.17 bn, significant accretion since 2001-02. As a certain sectors particularly in textiles/ Figures for 2002-03: Current Account Balance — April–September 2002; Forex Reserves - ason March 14, 2003.
distorted agricultural prices, multilateral food, fruits and vegetables, fifth largest liberalisation in agriculture could result Competitiveness
in a rise in welfare to the tune of 0.44% largest producer of fish in the world.
in Agriculture
discussions for facilitating international year with a view to target a specific setof commodities. Members also roll over provided to the agriculture sector varies identified to be price based, i.e. in the be the primary source of employment.
form of tariffs and export subsidies. The practice of rolling over of subsidies.
India has also called for the inclusion of all forms of export subsidisation schemes particularly on production subsidies.
in agriculture in characterised by a high and international transport subsidies.
agricultural support and would contribute towards ensuring a level playing field in a high incidence of export subsidies.
assessing the size of the static gains from Exim Bank Extends Largest
Exim Bank Extends
Exim Bank Extends
Credit Line of
US$ 5 Million Credit
US$ 2 Million Credit
US$ 200 Million to Iran
Line to Sri Lanka
Line to Philippines
of the Philippines (TIDCORP),Philippines, signed an Agreement in US$ 5 million from Exim Bank toHNB, to support India’s exports to of 10 % of contract value and credit will Under the LOC, importers based inPhilippines, will make advance payment of 10 % of contract value and credit will reimburse Indian exporters on shipment ofgoods. Credit period will be upto 5 years.
was established in January 1977 andis a wholly owned government general banking, developmentfinancing, mortgage financing, lease emerging as a full-fledged Exim Bank.
India’s exports to Philippines amounted preparations and ores, slag and ash.
products, apparel and precious metals.
For further information on all the LOCs,
please contact
& jewellery, electronics, IT, rubber, Ecotourism
clear-cut policy guidelines and strategies.
International Travel and Tourism Marts.
and these have been considered aslearning experiences. Ecotourism is now conceptualisation in different countries.
(Pondicherry); Lohtak Lake(Manipur); Kalpeni – a blend of as one of earth’s biologically, wealthiest F undamentally, Ecotourism means ecological diversity to eco-tourists. New Chilika Lake (Orissa). Exim Bank’s India and various State Governments.
‘Hector Ceballos-Lascurian’ a Mexican has, however, developed into a scientific Ecotourism principles and guidelines.
for Ecotourism, role of stakeholders such “International Year of Ecotourism” and ecologically sustainable, benefiting local supports State Governments in thepurchase of trekking equipments, late eighties. By mid nineties, countries EXIMIUS CENTRE COLUMN
BOOK REVIEW
Globalisation and
Opportunities in Central/East Europe and its Discontents:
in the CIS Countries – Partnership India Joseph Stiglitz
and EBRD’ jointly conducted by Exim on ‘Ease Export-A seminar on Export Financing and Risk Mitigation’ in on ‘Software Quality-CMM Standards’ and former Chairman of PresidentClinton’s Council of Economic ‘Price Risk Management & Securitisation for Agri Enterprises’ organised at the Centre.
(CBI) on ‘Export Marketing and Sourcing Bangalore addressed the participants.
Chemicals.’ The workshop was addressed on ‘Certification & Marking Requirements for Export of Electronics, Electrical and Engineering products to Developed Country Markets’ organised at the Centre. Mr. V.
Industries Service Institute, Ministry of A workshop on ‘WTO Implications on Indian Industry’ was held at the Centre.
on ‘The Status of Information & The workshop was addressed by Mr. R.
Communication Technology (ICT) Sector in Canada and its opportunities for Indian Companies’ organised at the Centre. The 3)Food Safety & the New International Commission, New Delhi & Mr. D.P.
Sri Lanka
substantial flow of aid from the European focuses on providing technical assistance the priorities are in the field of road and divestiture of its giant trading company, Poland launched its first Eurobond on the British market, with a US$ 250 mn bond.
Philippines
development of an SME sector program.
Poland’s access to EU structural funds for followed by mining, services, agriculture credits for the Philippines, totaling more importance in American energy security.
basket of 24 international currencies and Select Currencies
to depreciate by up to 6 percent against the and the resulting shortage of liquidity in selling rate at LKRs79.47. In line with the losses of official reserves and to mobilizethe support of International Monetary out of standby credit from IMF, helped to allowed to float freely since April 2000.
flexible crawling leg system within a band of about 17%. However, with theintervention of the central bank, the stability of LKR was restored at around 90 revalued on January 1, 1995, as new Zloty bn in 2002. LKR has been depreciating inthe last 5 years by about 10% on year-to- in 1995 to 3.52 in 1998, 4.143 in 2000 and year basis from 64.45 in 1998 to 95.66 in relatively stable. The absence ofspeculative pressure and restrained financial institutions the right to sell USD of 1.3% in 2002. It is estimated that the 1991-July 1996 a flexible exchange regime 2% in 2003. The inflation rate in 2002 was decrease the pressure on the currency.
at 1.90% and is forecasted to be steady at grew by about 3.20% on year-to-year basisin 2002 and it is estimated that it will cross in Jan 2002 to USD 30.50 bn in Jan 2003.
With the above positive indicators, Zloty to fall to 8 % in 2003. As on March 24,2003, LKR was quoted at 96.92 per USD foreign currency reserves have increasedfrom USD 16.84 bn in 1995 to USD 44.74 SRI LANKA
The currency of Sri Lanka is Rupee(LKR).
lacking in infrastructure for the complex Road to Cancún,
Mexico – The 5th
WTO Ministerial
Conference
threatening their domestic agriculture.
India’s reputation for taking a principled policies of all the members are subject to periodic review. India’s trade policy is subject to review every four years and in complimented for its reform process.
Policies and Practices in India hasstressed that India’s efforts would be The Fifth WTO Ministerial WTO was held in Tokyo in February India’s trade partners to reduce, if not task will be to take stock of progress in forcefully as possible. As the WTO is all The news items and information published herein groups were able to identify which of the have been collected from various sources, whichare considered to be reliable. While every care has declaration sets January 1st, 2005 as the been taken for authenticity of the material published, Exim Bank accepts no responsibility for authencity or accuracy of such items.
Note: Indian Rupees are referred in crore India still seems to retain its aura as a Export-Import Bank of India, Centre One Building, natural leader of the developing world at Floor 21, World Trade Centre Complex,Cuffe Parade, Mumbai 400 005.
Contact Numbers: Ahmedabad: 657 6852, Bangalore: 558 5755, Chennai: 2522 4714, Guwahati: 259 9135, Hyderabad : 2330 7816, Kolkata: 2229 3416,Mumbai: 2283 0761, New Delhi: 2332 6375, Pune: 645 8599Budapest: (361) 338 2833, Johannesburg: (2711) 442 8010, Milan: (3902) 584 30546, Singapore: (65) 653 26464, Washington D.C.: (202) 223-3238

Source: http://www.eximbankindia.org.in/eximmarch2003.pdf