A three-member team of experts, headed by economist Bibek Debroy, began its job of mapping a growth path of politically unstable Jharkhand today by meeting chief minister Arjun Munda and discussing the contours of a state development report. Working on a three-month time frame, Debroy, who was approached by Munda to take up the assignment, said his meeting with the chief minister was productive. “He has given us some thoughts to work...

Prime Minister Manmohan Singh will reassure South Korea President Lee Myung-bak that India will address all issues related to Pohang Steel Company’s (Posco’s) proposed $12-billion steel project in Orissa in a “constructive manner.” Posco India, which first announced the setting up of the massive plant five years ago, is facing environment roadblocks. Lee is likely to take up Posco’s case with Singh tomorrow. The two leaders, who are here for the East...

The government is divided over allowing foreign direct investment (FDI) in multi-brand and foodgrain retailing. While the Ministry of Finance is opposed to any change in the existing retail FDI policy, the Agriculture and Consumer Affairs Ministries, along with the Planning Commission, are open to the proposal mooted by the Ministry of Commerce and Industry. At present, FDI in these areas of retailing is banned. The finance ministry’s position gains significance in...

India is taking proactive measures and ready to make concessions to ensure a successful conclusion of the Doha round of multilateral trade talks, an official said here Tuesday. Commerce and Industry Minister Anand Sharma is scheduled to meet World Trade Organisation (WTO) Director-General Pascal Lamy, chairs of the sub-groups on agriculture, industrial products and services and ambassadors of various informal groupings at the WTO headquarters in Geneva Wednesday to push for...

State-owned trading firm MMTC Ltd, the Indian Farmers Fertiliser Cooperative (Iffco) and the conglomerate Bharti Enterprises plan to join the growing number of Indian entities engaged in commercial farming in Africa. Cheap land and labour costs in Africa are attracting a number of Indian firms with interest in agriculture. A large number of people in East African countries such as Kenya work in the cultivation of tea, coffee, corn, vegetables, sugarcane,...