Keep Us Strong WikiLeaks logo

Currently released so far... 51122 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Browse by classification

Community resources

courage is contagious

Viewing cable 09NEWDELHI2395, New Delhi Weekly Econ Office Highlights for the Week of

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09NEWDELHI2395.
Reference ID Created Released Classification Origin
09NEWDELHI2395 2009-11-27 10:31 2011-08-24 01:00 UNCLASSIFIED Embassy New Delhi
VZCZCXRO2703
OO RUEHAST RUEHBI RUEHCI RUEHDBU RUEHLH RUEHNEH RUEHPW
DE RUEHNE #2395/01 3311031
ZNR UUUUU ZZH
O 271031Z NOV 09 ZDK TO COLOMBO
FM AMEMBASSY NEW DELHI
TO RUEHC/SECSTATE WASHDC IMMEDIATE 8724
INFO RHEHAAA/WHITE HOUSE WASHDC IMMEDIATE
RUCNCLS/ALL SOUTH AND CENTRAL ASIA COLLECTIVE
RHEHNSC/NSC WASHDC
RUCPDOC/DEPT OF COMMERCE WASHDC
RHEBAAA/DEPT OF ENERGY WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RULSDMK/DEPT OF TRANSPORTATION WASHDC
RHMCSUU/FAA NATIONAL HQ WASHINGTON DC
RUEHRC/DEPT OF AGRICULTURE WASHDC
UNCLAS SECTION 01 OF 02 NEW DELHI 002395 
 
SIPDIS 
 
USDOC FOR ITA/MAC/OSA/LDROKER/ASTERN/KRUDD 
DEPT OF ENERGY FOR A/S KHARBERT, TCUTLER, CZAMUDA, RLUHAR 
DEPT PASS TO USTR MDELANEY/CLILIENFELD/AADLER 
TREASURY FOR OFFICE OF SOUTH ASIA MNUGENT 
TREASURY PASS TO FRB SAN FRANCISCO/TERESA CURRAN 
USDA PASS FAS/OCRA/RADLER/BEAN/FERUS 
 
E.O. 12958: N/A 
TAGS: ECON EFIN EINV ECIN EIND PK IR UZ TU TP IN
SUBJECT: New Delhi Weekly Econ Office Highlights for the Week of 
November 23-27, 2009 
 
REF: New Delhi 2120 
 
NEW DELHI 00002395  001.2 OF 002 
 
 
1. Below is a compilation of economic highlights from Embassy New 
Delhi for the week of November 23-27, 2009, including the 
following: 
 
-- Industrial Growth on Path to Recovery 
-- RBI Warns Banks Dealing with Iran, Pakistan, and Others 
-- FATF Mutual Evaluation Spurs Tougher AML Regulations 
 
Industrial Growth on Path to Recovery 
------------------------------------- 
 
2. Continuing a three month trend (see reftel), industrial 
production was up 9.1 percent in September.  Manufacturing, which 
accounts for 80 percent of the index of industrial production (IIP), 
grew by 9.3 percent.  Mining and electricity sectors registered 
robust growth rates of 8.6 percent and 7.9 percent, respectively in 
September.  Within manufacturing, basic chemicals and chemical 
products and machinery and equipment showed the highest growth in 
September.  It was not all positive news for manufacturing, however, 
as five of the 17 manufacturing industries had negative growth.  As 
in previous months, production in food products and jute, 
vegetables, and fibre textiles declined, but, for the first time 
since June, production in beverages and tobacco products, paper and 
printing products, and metal products also declined. 
 
3. As in the past three months, all five use categories - basic 
goods, capital goods, intermediate goods, consumer durables, and 
consumer non-durables - had positive growth in September.  Analysts 
point out that the rise in industrial growth over the past four 
months is due to the stimulus packages enacted by the government and 
the impact of the new hydrocarbon discoveries coming on stream, 
including the commencement of the Cairn India facilities and 
Reliance's KG facilities. 
 
RBI Warns Banks Dealing with 
Iran, Pakistan, and Others 
---------------------------- 
 
4. In a November 20 notice, the Reserve Bank of India directed banks 
to keep a strict watch on customer's business transactions with 
entities or banks from Iran, Pakistan, Uzbekistan, Turkmenistan, and 
Sao Tome.  The notification follows concerns raised by the Financial 
Action Task Force (FATF) regarding deficiencies in the anti-money 
laundering and countering financing of terrorism regimes in these 
countries. The FATF remains particularly concerned about Iran's 
failure to address the risk of terror financing and the serious 
threat this poses to the integrity of the international financial 
system. 
 
FATF Mutual Evaluation Spurs 
Tougher AML Regulations 
---------------------------- 
 
5. On November 12, the Department of Revenue under the Ministry of 
Finance issued a notification amending certain clauses of the 
Prevention of the Money Laundering Act (PMLA), which would bring 
registered Non-Profit Organizations (NPOs) or non-governmental 
bodies including charitable trusts, temples, churches, mosques and 
educational institutions under the purview of the PMLA.  The new 
rules would come into force after announcement in the Official 
Gazette. 
 
6. Once enacted, NPOs will be required to disclose the source of 
their funds where transactions exceed more than one million rupees 
(approximately $21,000).  The amendments will place NPOs under 
higher scrutiny by banks and financial institutions for large money 
transactions and suspicious transactions. 
 
7. The Foreign Contribution (Regulation) Bill (FRCA) is one of the 
62 scheduled pieces of legislation listed for consideration and 
passing in the current Parliament session, which began on November 
19 and will conclude on December 22.  The FRCA, replacing a similar 
1976 Act, will regulate and monitor donations, grants, and gifts 
received from foreign sources by domestic charitable organizations 
 
NEW DELHI 00002395  002 OF 002 
 
 
and NPOs.  The FRCA is broader in scope than its predecessor, 
covering political organizations, electronic media organizations, 
and cultural, economic, educational, religious, and social programs. 
 The Bill tightens registration requirements and allows the 
Financial Intelligence Unit to monitor foreign contributions to 
NPOs. 
 
8. Comment:  The GOI's goal of becoming a full member in the 
Financial Action Task Force (FATF) is the driving force behind many 
of these anti-money laundering bills and amendments.  Despite NPO 
concerns that the amended PMLA may make receiving assistance more 
difficult, the GOI is working hard to make sure no stones are left 
unturned as it readies itself for the FATF mutual evaluation 
beginning at the end of November.  Regardless of its motives, 
stricter oversight of NPOs is a welcome addition to the GOI's 
anti-money laundering.  End comment. 
 
9. Visit New Delhi's Classified Website: 
http://www.state.sgov/p/sa/newdelhi. 
 
 
ROEMER