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Business News
Bt Cotton approved with strings NEW DELHI: The Government has approved release of three transgenic cotton hybrids for three years. However, a condition has been laid down that Bt Cotton be sown on only 80 per cent of a land holding, whatever the size of the holding, and the remaining 20 per cent must be sown with non-transgenic cotton as "refuge" area. The latter should be the peripheries. Bt Cotton thus becomes the first transgenic crop that can be grown on a commercial scale in India. India
Overseas 100 per cent foreign funding in automobile sector NEW DELHI: The Government has opened automobile industry to 100 per cent FDI. The norm of minimum investment for small investors has also been done away with. Earlier, car manufacturers had to invest a minimum of $ 100 million and two, three-wheeler manufacturers $ 25 million to set up a production unit. The package consists of excise duty concessions and incentives to boost research and development. India
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