| It would also set up a pre-patent grant window to take care of opposition to patent claims, said Minister of Commerce and Industry Kamal Nath on Wednesday. |
| The Left parties had been opposing the amendments to the patent law, but the minister maintained that non-compliance with the deadline could result in sanctions, which would adversely affect India's exports at a time when the quota regime was coming to an end. |
| The minister also announced setting up of five monitoring committees for the thrust areas identified in the Foreign Trade Policy 2004-09 . These sectors are agriculture, handicrafts, handlooms, gems and jewellery and leather and footwear sectors. |
| Rate hike not to hit growth: Lahiri |
| Chief Economic Adviser Ashok Lahiri on Wednesday said the marginal increase in interest rates was unlikely to affect economic growth. |
| "I will say that interest rates have risen marginally, but they are still conducive for economic growth. I do not see them impacting economic growth," Lahiri told reporters on the sidelines of the Economic Editors' Conference. |
| Financial Sector Secretary NS Sisodia said it was difficult to say whether the soft interest rate regime had ended with inflation and global crude prices coming down. |
| 30 airports to be upgraded: Patel |
| The Airports Authority of India (AAI) would raise nearly Rs 5,000 crore through bonds and other instruments to upgrade about 30 airports across the country by 2007-08, Civil Aviation minister Praful Patel said on Wednesday. |
| "The process to upgrade these airports has already begun and will go on simultaneously with the restructuring of the Delhi and Mumbai airports, the bidding process for which is likely to be completed by March 31 next year," he told the Economic Editors' Conference in New Delhi. |
| "By 2007-08, modernisation and upgradation of all the airports identified will be completed. It may cost Rs 5,000 crore and the AAI will raise money from the market through various instruments, including bonds," he said. |
| Asserting that aviation infrastructure required maximum impetus as it was inadequate keeping in view the expected splurge in traffic in the coming years, Patel said all the airports should be upgraded to international standards. |
| More fertiliser subsidy: Paswan |
| Minister for Chemicals and Fertilisers Ram Vilas Paswan on Wednesday said he would soon meet the Prime Minister seeking more subsidy for Single Superphosphate (SSP). |
| Addressing the media at the annual Economic Editors' Conference, Paswan said that Projects Development India Ltd (PDIL) had been asked to assess the viability of reviving the closed units of the Fertiliser Corporation of India Ltd (FCI), Hindustan Fertiliser Corporation Ltd (HFC) and Pyrites, Phosphates & Chemicals Ltd (PPCL). |
| "PDIL has been asked to assess the viability by updating the viability reports prepared by them earlier. Further action in this regard will be taken on receipt of the reports from them," Paswan said. |
| The minister said the availability of urea remained satisfactory so far during 2004-05. The kharif 2004 season opened with stocks of 7.65 lakh tonne as on April 1, 2004. |
| The production of 100.07 lakh tonne coupled with imports of 1.71 lakh tonne during the seasons took the total availability of urea to 109.43 lakh tonne. |
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