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Welfare of Indians strategic importance for economy: official
Publish Date : 1/31/2007 12:08:00 PM   Source : Business News Onlypunjab.com

With the increasing role of the ethnic Indians in Dubai, Indian officials here consider their welfare as of "strategic importance" for the Indian economy.

With nearly one million Indians residing in Dubai and the northern emirates, nearly 65 percent of them being blue-collar workers, the welfare of the Indian community here is of "strategic importance" and will get top priority, said Venu Rajamony, the new Indian consul general here. There are nearly 1.8 million Indians in the UAE.

Rajamony said the endeavour of the consulate would be to reach out to the community, individually and collectively, to understand their problems and solve them.

In recent times, there has been increase in number of salary defaults, he said. In order to address the problems of the Indian community here, the consulate holds a monthly 'Open House' where such issues can be taken up by the senior officers.

The Middle East has become one of the target market for more than three-quarters of India's main export products, including fresh fruit and vegetables, meats, confectionery and dairy items.

Indian food exports to the countries of the region are worth an estimated USD 3 billion a year, with agricultural and processed food exports to the UAE alone accounting for more than USD 273 million.

"India is an important partner of the Middle East market both in terms of exports and imports," an embassy spokesperson said.





Indo-Australia committed to resolve agri-trade issues         Publish Date : 3/3/2007 7:21:00 AM  
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.

RBI to absorb more liquidity to contain inflation         Publish Date : 3/3/2007 7:11:00 AM  
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.

Gold and Silver prices turn distinctly weak         Publish Date : 3/3/2007 7:03:00 AM  
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.

Further fall in gold and silver prices         Publish Date : 3/2/2007 7:06:00 AM  
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.

Rupee ends marginally up at 44.26/27 a dollar         Publish Date : 3/2/2007 7:03:00 AM  
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.

Hyundai domestic sales up 74 pc in Feb         Publish Date : 3/2/2007 7:01:00 AM  
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.

Hutchison Telecom files caveat fearing legal move by Essar         Publish Date : 3/2/2007 6:59:00 AM  
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.

Skoda slashes car prices up to Rs 24,000         Publish Date : 3/2/2007 6:56:00 AM  
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.

Bond prices continue to decline         Publish Date : 3/1/2007 8:30:00 AM  
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.

India should be more conscious of global developments: RBI         Publish Date : 3/1/2007 8:19:00 AM  
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.

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