November 27: Centre for Monitoring Indian Economy (CMIE) has launched `India Trades', a value added service in the electronic media on country's foreign trade, at a function organised by the union ministry of commerce in New Delhi on Monday. India Trades is a unique collaborative effort of the public and the private sectors to disseminate economic information. This has been produced by the CMIE in association with the Directorate General of Commercial Intelligence & Statistics (DGCI&S), Calcutta under an arrangement facilitated by the union ministry of Commerce. The new service is expected to meet the information requirements of exporters, importers, trade analysts, policy makers and researchers, among others.

East India Cotton Association decision on trading: The board of the East India Cotton Association has decided to allow trading in non-transferable specific delivery contracts in all varieties of cotton grown in Karnataka during the 1997-98 season. It has stipulated that delivery shall be provided within five months of the contract date.

Cotton inflow picking up: Cotton inflow has started picking up with prices recording a firm trend from the middle of this month. However, the mills were in two minds to decide about their bulk purchase due to low cash flow and were waiting for a steady supply of cotton lint, delayed due to recurrence of rains in some cotton belts, according to trade sources in Coimbatore. The cotton prices were showing an easy to steady trend in Punjab, Haryana, Rajasthan and Gujarat and arrivals were on the increase despite wet spell in these belts.

Indira Gandhi canal project leaves 15,000 hectares waterlogged: The Indira Gandhi canal project (IGNP) has rendered nearly 15,000 hectares under the command area waterlogged and non-productive, according to an official report. The report on environmental impacts said water-logging of vast tracts of land was becoming `a big problem and nearly 10.5 lakh hectares of command area is directly or indirectly affected by the project'. Another 26,500 hectares have become critical with fall in water level to 1.50 metres below the ground level', the recent report said.

"Low priority for acquisition of aircraft carriers": The cabinet committee on security (CNS) has approved several new projects for the Navy running into crores of rupees, but acquisition of aircraft carriers was definitely a low priority, chief of naval staff admiral Vishnu Bhagwat said. Speaking to reporters after the annual investiture ceremony at the naval airbase `INS Kunjali', Bhagwat said the top priority now was indigenous construction of an air defence ship and ensuring regular supply of a series of warships and submarines. He declined to elaborate regarding the quantum of financial resources approved by the cabinet committee. About 60 per cent of ships production would be indigenous, he noted.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.