NEW DELHI: India's gross domestic product is expected to grow by six percent in 1999/2000 (April-March) while agriculture would grow by 4.2 percent, the National Council of Applied Economic Research said on Monday.

"Under the assumption of boost to construction, NCAER predicts that real GDP will grow by 6.0 per cent in the current fiscal," NCAER said in its quarterly review of the economy. Though the economy has emerged relatively unscathed from the recent political uncertainty at the Centre and the Kargil conflict, NCAER's business confidence index has registered an 8% decline in May-June. Signs of industrial recovery are visible with IIP-general and manufacturing showing high growth rates in April-May.

COAI accepts sops, TRAI to move HC

NEW DELHI: Cellular Operators Association of India (COAI) met here today and decided to ``unconditionally'' accept the new telecom package.

Most of the operators are likely to withdraw the litigationsagainst the Government, as a pre-requisite for making companies eligible to move to the new package. However, metro operators have reservations about specific mention of which cases have to be withdrawn from the courts. The operators are uncomfortable about withdrawing the case relating to the jurisdiction of the TRAI pending with the Delhi High Court. TRAI is expected to approach the Delhi High Court to pronounce the judgment on the case which has already been heard. ``We will ask the court to convert us from the respondents to the appellants in the given case if the private operators withdraw their case,'' said Justice S S Sodhi, chairman, TRAI.

Redrock takes over Weikfield Intl

DUBAI: Redrock Ltd, a Jebel Ali Free Zone based company, which makes Dabur India products under a licensing agreement, on Wednesday acquired a controlling interest in the Sharjah-based Weikfield International through an equity buyout. Weikfield International was set up originally as a joint venture between theBritish Virgin Island based Weikfield Overseas (a wholly-owned subsidiary of the India based Weikfield) and a UAE-based consumer products company. Jay Krishna, CEO of Redrock Ltd, said the company plans to increase its equity ratio in the company in a few months time.