• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

— Ramesh Sharma

Mr Sajjan Jindal, President, Assocham, with the Secretary-General, Mr D.S Rawat, addressing a press conference in the Capital on Wednesday.

New Delhi, June 11

Mr Sajjan Jindal, The newly elected President of Associated Chambers of Commerce and Industry of India (Assocham) has suggested scraping of Press Note 1 to attract foreign direct investment (FDI) in the country with the latest technologies. Mr Jindal said the legal problems arising out of Press Note 1, diverted FDI to countries like China. Besides, he also recommended broad basing of public distribution system to combat inflation. “The Press Note 1 is an act that wa s introduced to protect the interests of domestic players who run the risk of direct competition with their foreign joint venture partners, better equipped with technology and capital,” Mr Jindal said at a conference. He, however, supported continuation of Press Note 5 and Press Note 9 stating that they supported the domestic requirements in its current form.

— Our Bureau

More Stories on : Industry Associations | Foreign Direct Investment

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
AP Municipal Tramways Act gets Cabinet approval

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line