EBS Signs On As PayPal’s First Channel Partner In India
To help Indian online merchants go global, EBS (E-Billing Solutions), an online payment provider, has announced that they are the first Channel Partner in India for PayPal, a world leading online payment provider. Through this strategic partnership, over 5,000 EBS online merchants can instantly add PayPal as a payment option to their EBS Merchant Account and sell to PayPal’s 113 million active accounts in 190 markets across the globe.
A distinctive advantage of PayPal is that the smallest of Indian exporters can now go global and start accepting overseas online payments from day one as compared to the 30-day period offered by other online payment systems and up to the 90-day period as per traditional export models. R. Prabhuram, ED, EBS India, says, “PayPal is a leading global brand and a boon to merchants as it instils confidence and trust to global shoppers for purchasing goods and services from unknown Indian merchants.”
Christian Chamber of Commerce Awards
Margaret Alva, Governor of Rajasthan will be the Chief Guest at the annual award function of The Christian Chamber of Commerce and Industry. Rev. Fr. Elias Gonsalves, Bishop Elect Diocese of Amravati will be the Guest of Honor at the ceremony organized by the body of Christian Entrepreneurs and Professionals, which will be held on September 22 at Hotel Kohinoor Continental in Mumbai.
The 14-year old organization with a membership of over 500 members, honours those members of the Christian community who have excelled in their respective fields. The Award winners for this year are Oomen Chacko for Outstanding contribution to Industry, Maj. Gen (Retd.) Neville Rasquinha, for outstanding contribution in the field of Public Service, Rev. Fr. Cedric Prakash in the field of Social Work, Prems Aprain Srampical as a Young Entrepreneur, Dr. Augustine Pinto and Grace Pinto for outstanding contribution in the field of Education and Felicia Grace Lobo as the pioneering Women Entrepreneur.
Fifth Annual China Sourcing Fairs Opens
The fifth annual China Sourcing Fairs opened at the Bombay Exhibition Centre and runs through September 22. The fairs aim to strengthen trade relationships between China and India. The co-located events are Electronics & Components, Hardware & Building Materials and Bathroom Products. Combined, the Fairs feature over 400 booths from mainland China, Hong Kong, Taiwan and South Korea exhibitors.
“Trade between China and India is expected to reach US$100 billion by 2015. Highlighting the importance of this relationship, India and China have gone so far as to create a five-year economic cooperation plan,” said Tommy Wong, President of Global Sources Exhibitions.
The Fairs received support from mainland China and Korea with group pavilions of Yiwu and Korea International Trade Association. The Fairs are also endorsed by All India Association of Industries, and other trade bodies.
CEOs Meet Minister On FDI
Post the FDI Announcement a hi-powered a group of CEOs meet Anand Sharma, Minister of Commerce and Industry & Textiles, Govt of India in Mumbai. The Group led by Adi Godrej, President CII, congratulated the Minister for the bold Reforms Announcement. Other CEOs present included Anand Mahindra, Past President CII & Chairman & Managing Director, Mahindra & Mahindra, B Muthuraman, Past President, CII & Vice Chairman, Tata Steel and Chanda Kochhar, CEO & Managing Director, ICICI Bank.
Drug Pricing Policy Proposal Soon
Agriculture Minister Sharad Pawar, who is heading a GoM to formulate the drug pricing policy, has said the panel will finalise the proposal within the next two weeks. The group which met yesdarday, agreed to study how emerging countries like Mexico, South Africa, Bangladesh and Sri Lanka fix prices of essential medicines, before finalising the policy on drug pricing in India.
Law Minister Salman Khurshid said the market based formula for fixing prices of essential medicines was very difficult as it would mean leaving it to the market to decide.