India's retail industry to grow to $1.3 trillion by 2020: FICCI
The size of India's retail industry is expected to more than double to $1.3 trillion by 2020, led by an estimated 25 % average annual growth in organised retail if overseas investment is permitted in the sector, an industry body has said.
"The Indian retail is poised to become a $1.3 trillion opportunity by 2020. With the current market size estimated at $500 billion, this translates to an additional $800 billion in the next eight years," said R.V. Kanoria, president of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Currently, almost 94 % of India's retail industry is unorganised or traditional.
(Sources: Economic Times, Indiatimes, Zeenews, i4u, IBNLive, Hindu Business Line)
CMIE sees corporate profit jumping 17.7 pc this fiscal
Led by financial services sector, India Inc is likely to post 17.7 % growth in net profits this fiscal on the back of a 15 % rise in revenues, says a CMIE forecast.
The growth in profits going forward is expected to be led by moderation in input prices and rupee appreciation, a report by the Centre for Monitoring Indian Economy (CMIE) said.
The profit of the manufacturing sector is likely to grow 15.9 % while non-financial and financial services sectors have been pegged at 19.9 % and 20.9 %, respectively this fiscal.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Deccan Herald, i4u)
Inflation may accelerate to 8.2 per cent by December: Morgan Stanley
According to a research note by Morgan Stanley, WPI inflation is likely to accelerate to around 8-8.2 % by December 2012 before moderating to the 7-7.5 % level by the quarter ended March 2013.
Though the provisional WPI inflation for October has decelerated to 7.45 %, but going by the trend of revision in the past months, the final number could be closer to 8 %, Morgan Stanley said.
The WPI Inflation declined marginally to 7.45 % in October, from 7.81 % in September.
WPI inflation has remained above the RBI's comfort zone of 5-5.5 % for the past 35 months now.
(Sources: Economic Times, Indiatimes, Moneycontrol, IBNLive, Zeenews, NDTV)
India ranks seventh in global services trade by WTO
India has been ranked by the World Trade Organisation (WTO) as the seventh largest player in the global services trade with value of exports and imports aggregating $ 261 billion in 2011.
With exports at $ 137 billion and imports at $ 124 billion, India is among the five countries among the top ten players which ended the year 2011 with a surplus of trade in commercial services, according to a WTO report.
The Indian economy is mainly driven by services with the sector contributing over 55 % of the country's Gross Domestic Product (GDP).
(Sources: Economic Times, Indiatimes, Business Standard, Zeenews, Financial Express)
PM Manmohan Singh leaves for Cambodia to attend ASEAN and East Asia Summits
Prime Minister Manmohan Singh today left for Cambodia to attend the ASEAN and East Asia Summits which will provide an opportunity for India to enhance its economic cooperation against the backdrop of crisis in the western world.
Singh will be in Cambodian capital Phnom Penh for three days during which he is also expected to have a meeting with Chinese Premier Wen Jiabao and some other world leaders on the sidelines of the ASEAN and EAS Summits.
In his pre-departure statement, Singh said India's partnership with 10-nation ASEAN is an important component of the 'Look East Policy'.
(Sources: Economic Times, Indiatimes, the Hindu, India Today, Press Trust of India, NDTV)
Anand Sharma upbeat on retail FDI
Three days before a stormy winter session of Parliament is slated to begin, Commerce and Industry Minister Anand Sharma said the government did not foresee a situation where investors’confidence would be dampened over the Opposition parties’ protest against foreign direct investment (FDI) in multi-brand retailing.
Part of the official delegation accompanying Prime Minister Manmohan Singh to the Association of South East Nations (Asean) summit in Phnom Penh, Cambodia, he was briefing the media on board the aircraft earlier on Sunday.
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line, Moneycontrol)
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