Sunday, June 21, 1998
Exports set to register 20% growth despite sanctions, Moody's move -- Hegde
The country will be able to achieve the targeted 20% growth in exports despite US sanctions, and the downgrade by Moody's is unlikely to have any negative impact, according to Union commerce minister Ramakrishna Hegde. Speaking at a function organised by the Indian Merchants' Chamber for exporters on Saturday Hedge allayed fears of exporters, saying that such sanctions had never succeeded in the past.
Kirloskar-Denso venture hits a roadblock over Subros move
The proposed joint venture between Denso Corporation of Japan and the Kirloskar group has run into rough weather with Denso's existing joint venture partner Subros Ltd putting a spanner in the proposal. The Lalit-Ramesh Suri controlled Subros, which manufacture automotive air-conditioning systems, has refused to release a no-objection certificate to Denso Kirloskar Industries Pvt Ltd, the proposed joint venture.
JT Mobiles in talks with Tata firm for sharing cell network
JT Mobiles Ltd is in talks with Tata Communications Ltd, the mobile phone operator in Andhra Pradesh, to share cellular backbone network on revenue sharing basis. Currently, Tata Communications has 22,000 subscribers and JT Mobiles some 20,000 subscribers in Andhra Pradesh. The deal once finalised, will help both the cellular companies to minimise their operational costs.
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