Retail inflation close to double digits in November
Retail inflation touched 9.90 per cent in November, year-on-year, up from 9.75 per cent in October. The uptick was driven primarily by the continued price rise of food and clothing items. Fat-rich items and sugar contributed the maximum to the price increase at 17.67 per cent and 16.97 per cent, respectively. Prices of vegetables, pulses and cereals grew at the rate of 14.74 per cent, 14.19 per cent and 12.35 per cent, respectively.
The high inflation might make the Reserve Bank of India cautious ahead of the quarterly review of the monetary policy on December 18. Inflation in rural areas was at 9.97 per cent, staying pretty close to 9.98 per cent in the previous month.
(Sources: Hindustan Times, India Today, Hindu Business Line, Business Standard, Zeenews)
October IIP beats expectations at 8.2%, highest since June 2011
The Index of Industrial Production (IIP) for the month of October expanded at a robust 8.2% versus a contraction of 0.7% in September. This beats the ET Now poll expectations of 4.9% by a large margin. The consensus range of the poll stood between 1% to 7.5%. This is the highest that the IIP has touched since June 2011, when the indicator came in at 9.5%.
The manufacturing sector grew at 9.6% versus a contraction of 1.5% in September. The electricity sector witnessed a growth of 5.5% versus 3.9%. The basic goods sector grew at 4.1%
(Sources: Economic Times, Indiatimes, Moneycontrol, Financial Express, India Everyday)
Consumer price inflation at 9.90% y-o-y in November: Govt
Retail inflation rose marginally in November almost reaching double digits, as a number of food items became expensive, dimming hopes of rate cut in the RBI's monetary policy review next week.
The consumer price index (CPI) rose 9.9% in November from a year ago, marginally higher than the 9.75% clocked the previous month, data released by Central Statistics Office on Wednesday showed.
Rural and urban consumer retail inflation was 9.97% and 9.69%, respectively, in November.
(Sources: Economic Times, Indiatimes, the Hindu, i4u, Financial Express, Indian Express)
India's energy system better than China, says WEF
India's energy system is better than that of neighbouring China in the context of an integrated economic, environmental and energy security perspective, according to the World Economic Forum (WEF).
The Global Energy Architecture Performance Index Report 2013, released today, has ranked India at 62nd position, much ahead of China which is placed at 74th spot.
The index measures the strengths and weaknesses of countries' energy systems from an integrated economic, environmental and energy security perspective, WEF said.
(Sources: Financial Express, IBNLive, Times of India, Indiatimes, Press Trust of India)
TVS sees market share improving by 2.5% with 125 cc bike launch
Two and three wheeler major TVS Motor today said it's market share in motorcycles segment is expected to expand by 2.5 per cent with the launch of new bike in 125 cc segment.
The company currently has 7 per cent market share in motorcyles segment.
The company is expecting monthly sales of 20,000 units of its new bike which has been rolled out in 125 cc segment.
(Sources: Economic Times, Indiatimes, Moneycontrol, Zeenews, Hindu Business Line, i4u)
India operations to be $10 billion annual business by 2018: Panasonic
Japanese electronics goods major Panasonic today said the Indian operations will become its second largest in Asia Pacific after China with an annual revenue of USD 10 billion by 2018.
The company's Indian subsidiary, which hopes to have a turnover of $ 1.85 billion in this fiscal, is aiming to be the number one in the region by 2030 from its current ranking of below 10th position.
To achieve its target, the company will set up more production facilities in India as it looks to make the country a manufacturing hub. It today inaugurated its sixth plant in the country here.
(Sources: Economic Times, Indiatimes, Indian Express, i4u, Worldnews, NDTV, Zeenews)
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