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Govt sets new export strategy
The Union commerce ministry has unveiled a medium term strategy to achieve an export level of $90 billion and a 1% share for India in world exports by the year 2002. The strategy entails improving the competitiveness of exports, enhancing the production base for exports and focussing on technology upgradation.
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FI nominee voted out from SWC
Manu Chhabria has finally succeeded in getting rid of the institutional nominee, PK Pandit, from the Shaw Wallace board. In the vote held on December 31, 1997, the resolution on the reappointment of Pandit was not carried. Pandit lost by a margin of 1.35 crore votes with 69% of the votes going against him.
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Tata-SIA technical tie-up likely in airline venture
The Tatas have not ruled out a technical tie-up with Singapore International Airlines for their proposed airline. The Tata group's application submitted with the FIPB, however, does not mention any foreign partner, in keeping with the new aviation policy.
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ONGC goes fishing in deep waters
With production continuing to plateau in most of its existing fields, ONGC is now trying its luck in the country's deep waters. It has finalised an agreement with Sedco Forex of the US to operate and maintain its rig for deep-sea drilling beginning this month.
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