India a decelerating market: Survey
The 16th Annual Global CEO (chief executive officer) Survey by PricewaterhouseCoopers’ (PwC) has identified the growing Indian market as “decelerating” in comparison with Brazil, Indonesia and South Africa that are tagged as “accelerating” growth markets
Not only India, global CEOs have identified that markets such as China, Mexico, Russia, Saudi Arabia, South Korea and Turkey are also decelerating, according to the survey. About 1,330 CEOs participated in the survey across 68 countries.
Interestingly, half of the top 10 countries identified as preferred business destination for the next 12 months are the growth markets. About 31 % of the CEOs worldwide have voted for China as the most preferred destination for business, followed by the US (23 %), Brazil (15%), Germany (12%) and India (10%).
(Sources: Economic Times, Indiatimes, Business Standard, i4u, Financial Express, Worldnews)
Economists see only moderate improvement in Q4
At the outset of the year 2013, India’s worsening macroeconomic parameters are a major cause of concern. Latest data clearly showed that the current account deficit (CAD) stood at a record level and the economic growth was stuck at a three year-low in the second quarter of the current financial year. Besides, the Centre's fiscal deficit is poised to breach even the revised target in 2012-13 and industrial production is giving confusing pointers to economic growth.
Economists believe that the current account deficit (CAD) is more of a problem than the fiscal deficit, and advocate raising the import duties on gold to narrow the CAD. The CAD in the June-September quarter of 2012-13 was at an all time high of 5.4 % of the GDP.
(Sources: Business Standard, Smart Investors, Rediff News, Allvoices, i4u, CNBC)
Buddhist train arrives in Odisha
After years of waiting, inter-state special Buddhist train Mahaparinirvan Express, run by IRCTC (Indian Railways Catering and Tourism Corporation Ltd), a subsidiary of the Indian Railways finally reached Odisha on Tuesday.
The Buddhist train carried about 83 passengers, including 14 from Thailand and one each from France and Indonesia. The travelers also included tour operators, travel agents, writers and journalists, said MR Patnaik, General Manager, Odisha Tourism Development Corporation (OTDC).
The interstate train that connects to Buddhist sites like Bodhgaya, Sarnath, Nalanda, Rajgir, Kushinagar was scheduled to arrive at 8.30 am at Haridaspur, but it was delayed by about three hours.
(Sources: Business Standard, Times of India, Daily Pioneer, India Everyday, i4u, Indiatimes)
5th seminar on hydrocarbon industry in North East inaugurated in Guwahati
The 5th seminar of Hydrocarbon Industry Growth Prospects & Challenges in North East was ceremoniously inaugurated by Professor Gautam Barua, Director IIT, Guwahati, board member of IOCL and OIL, amidst a large gathering of members of hydrocarbon industry and academia in Guwahati on Monday.
Prof. Barua said there are many technical challenges in issues of drilling, hydro dynamics, waste water treatment and therefore very many opportunities for research in these areas.
Centrally funded institutions and upcoming private engineering colleges would provide ample opportunity for development of manpower in the region, said the director.
A growing economy of the region with developed infrastructure would be a large fillip for the hydrocarbon industry here in the North East Region.
(Sources: Economic Times, Indiatimes, Sentinel Assam, Zeenews, IBNLive, i4u, India Everyday)
Government will aim at 4.8% fiscal deficit in 2013-14: FM P Chidambaram
Expressing India's commitment to fiscal prudence, Finance Minister P Chidambaram today said the government will contain deficit at 5.3 % of GDP in the current year, and bring it down to 4.8 % in 2013-14.
Chidambaram’s efforts to present India as an investor-friendly country has come a little over a month before the Union Budget and a few days after Moody’s Investors Service reaffirmed a stable outlook on India’s sovereign ratings.
Speaking at the Global Investors Meet in Hong Kong, the finance minister indicated before an audience of about 200 people that tax rates might not be raised and the coming Budget would offer a lot to investors, despite government policy being biased in favour of the poor.
(Sources: Economic Times, Indiatimes, Deccan Herald, Press Trust of India, IBNLive, i4u)
World Economic Forum meet begins; India to hard sell retail, IT sectors
Indian leaders are all set to showcase the country as an attractive investment destination, especially for retail and IT, at this year's WEF meet that began today at the snow-laden Swiss town amid uncertain global economic environment.
This year's edition of World Economic Forum (WEF) meet on the theme 'Resilient Dynamism' would see participation of high profile leaders like German Chancellor Angela Merkel. The meet is expected to mostly deliberate on ways to contain fiscal woes and boost global growth.
(Sources: Moneycontrol, NDTV, India Everyday, i4u, Hindu Business Line, Times of India)
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