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Rs 1,000-crore annual grant sought for NRF

Our Bureau

NEW DELHI, June 5

THE Ministry of Heavy Industries and Public Enterprises has sought Rs. 1,000-crore annually from the Ministry of Finance for the National Renewal Fund (NRF).

Addressing a press conference here on Monday, the Minister of Heavy Industries and Public Enterprises, Mr. Manohar Joshi, said that part of the fund would be used for retraining and redeployment of the workforce which opts for voluntary retirement.

Mr. Joshi was briefing newspersons on the recent Indian delegation's visit to China, led by the President, Mr. K.R. Narayanan. The delegation had visited Beijing, Dalian and Kunming.

Replying to a question, the Minister said that he was holding discussions with the chief executives of public sector undertakings under the Department of Heavy Industries (DHI) to finalise a white paper on the units under the department.

On the visit to China, where Mr. Joshi was part of the delegation, the Minister said that several potential areas of economic and trade relations were identified between the two countries.

He said that the areas where India could offer help were in machinery, auto components, computer software, gem and jewellery, marine products and traditional medicine. Mr. Joshi said that special mention was made of the possibility of India becoming a ma jor sourcing point for software to China.

China, on the other hand, could offer its assistance in coal, coking coal, pre-fabricated housing technology, electronic components, silk processing, ceramics and underground mining equipment.

Mr. Joshi said that talks were also held on the possibility of boosting tourist traffic between the two countries and for developing a direct airlink between them. He pointed out that a memorandum of understanding (MoU) already exists between the two cou ntries for beginning air services.

``The only reason identified for the air services not having commenced between the two countries is that it may not be viable,'' Mr. Joshi said.

He said that discussions were also held for a possible passage from China running through Myanmar into India for facilitating trade and commerce as well as tourism between the two countries.

He said that China had agreed in-principle to an Indian suggestion to set up an expert committee to look into the various dimensions of the relations between the two countries.