Monday, July 19, 1999
Inflation slides further to 1.83 pc
For the first time in 17 years, annual rate of inflation fell below the 2% mark to 1.83% for the week ended July 3, mainly on account of steady vegetable prices compared to the previous year. The record low in inflation, based on wholesale price index (WPI), is due to lower rates for vegetable compared to unprecedented price rise this time last year.
India-US talks on automobile policy set to start
The US, which has serious reservations about India's automobile policy, has called India for formal consultations in Geneva on Monday. Director general of foreign trade N L Lakhanpal will represent India at the talks which will continue till Tuesday. He will be joined by India's ambassador to WTO S Narayanan.
India moves up in FDI Confidence Index
India stands at the number six position of the latest FDI Confidence Index of the management consultancy firm, AT Kearney. The index, however, rates the attractiveness of a country for the foreign direct investment which is different from the actual flow of FDI.
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