FOR A FEW RUPEES MORE

Article Abstract:

The Government of India has increased the customs duty on gold from Rs250 to Rs400 per ten grams following the rise in the imports of gold. Consequently the trade deficit has also increased to $6.7 billion between April and November 1998 compared to $3.3 billion during the same period in 1997. The customs duty increase is likely to encourage smuggling of gold into India. Holding gold as security will idle the resources. Hence the Government should encourage converting it into liquid assets. The Government of India has recently asked the banks to lend gold instead of rupee to gold jewellery exporters. This is seen as step in turning the gold holdings into financial assets. (rk)

Primary Smelting and Refining of Nonferrous Metal (except Copper and Aluminum), Gold, Precious metal products

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ZENECA PITS VERMINATOR AGAINST TERMINATOR

Article Abstract:

Zeneca Biosciences has introduced a biotechnology called Verminator in direct competition against Monsanto's Terminator technology. Zeneca has bioengineered a rat's gene into a plant seed which will render second generation seeds sterile. Zeneca has decided to apply for patents in 58 countries for its Verminator technology. The government of India has banned the import of any seed material that has been bioengineered using such technologies. It has also refused to grant a patent for such biotech products. (khr)

Comment:

India: Govt bans the import of any seed material that has been bioengineered using such technologies

Seeds NEC, Nursery and Floriculture Production, Seeds, Article

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