Noted

Appointed: Ganesh Natarajan, Deputy Chairman & Managing Director, Zensar Technologies, as Chairman of NASSCOM for the year 2008-09. Pramod Bhasin, President & CEO, Genpact, has been elected Vice Chairman of NASSCOM for the current year.

Fallen: By 23.4 per cent, India’s gold imports, to 592 tonnes in 2007-08, following the sharp rise in gold prices, reports the Bombay Bullion Association. It says that imports in March 2007 halved to 27 tonnes compared to the figure for March 2007. India, the world’s largest gold consumer, usually imports 700-800 tonnes of gold annually.

Ranked: At #50 among 127 countries, India on network readiness in 2007-08, by the World Economic Forum (WEF). WEF conducts an annual survey of countries and publishes a Network Readiness Index. The country has fallen six places from its 44th position out of 122 countries last year.

Announced: By the government, a one-year extension of the income tax holiday for export-oriented units (EOUs) under Section 10B of the Income Tax Act. It will move an amendment in the Parliament on this. Reliance Industries is expected to be one of the biggest beneficiaries of this move as it converted its refinery at Jamnagar into an EOU in 2007-08.

Identified:

Also read: India gets high on FDI Just wondering ...

By C.B. Richard Ellis, a leading UK-based real estate services firm, India, as the most sought-after emerging market in a survey of 300 global retailers. About 27 per cent of international retailers surveyed opened their first store in India last year or are planning to do so soon. The survey reveals that 40 per cent of retailers expect emerging markets to fuel their growth over the next five years.

Ruled: As constitutional, by the Supreme Court, the 27 per cent quota for the other backward castes (OBCs) in centrally funded institutions of higher education from the coming academic year, which was announced amid much controversy by Union HRD Minister Arjun Singh in 2006.