Business News

• India aiding global growth Zoellick
• Cotton export quota to be allocated today

India aiding global growth Zoellick

Describing India as a global player and rising economic power, World Bank president Robert Zoellick has said the high level of growth in the country is helping the international economy recover from the crippling effects of recent financial turmoil.

“India's return to high levels of growth is helping the global economy recover from the crisis,“ said Zoellick, who is scheduled to arrive in the country on Monday on a four-day visit aimed at strengthening cooperation between the multilateral lender and Asia's second fastest growing economy.

India, he further said, “is a player on the global stage. The country's status as a rising economic power is closely connected with how it manages this next phase of growth, balancing rapid development with the environment and most importantly, the need to ensure all people have opportunity“.

Cotton export quota to be allocated today

The government will reopen from Monday opportunity for cotton exports, allocating specific quantity for traders, subject to overall ceiling of 2.5 million bales.

In the wake of high domestic cotton prices, the government had fixed an export limit of 5.5 million bales (of 170kg each) for the current season (October 2010September 2011).