PANAJI - Goa government's controversial allocation of land to seven promoters had created "monsters" out of the special economic zone (SEZ) concept, an industry body said Monday.

NEW DELHI - French companies are committed to investing over $13 billion in India by 2012 and the two countries are targetting doubled bilateral trade at almost $16 billion in the same period, an official said Monday.

DHARAMSALA - The Himachal Pradesh government has signed a memorandum of understanding (MoU) with dairy products major Nestle India to set up a food and beverage manufacturing unit in the state, a minister said here Monday.

KOLKATA - IT giant Infosys will start construction work on its proposed development centre in Rajarhat outside Kolkata in six months, company chairman Kris Gopalakrishnan said here Monday.

BANGALORE - Transport solutions major Volvo Buses India Ltd Monday announced that it has bought the 30 percent equity stake its partner Azad Coach Builders Ltd group had in the joint venture for an undisclosed sum.