International Guwahati Trade Fair 2013 starts on January 30
Trade exposition International Guwahati Trade Fair 2013 will start on January 30. Countries including Pakistan, Bangladesh, Thailand, Nepal, Myanmar will participate in the 20th edition of the fair.
During the fair world champion women sumo wrestlers will fight it out. The 14 day long day fair is organized by Industries and Trade Fair Association of Assam (ITFAA) in association with National Small Industries Corporation Limited (NSIC).
Union Minister of State for Railways, Micro, Small and Medium Enterprises, Government of India, K. H. Muniyappa, Pisan Manawapat, Ambassador of Thailand in India, Mahbub Hassan Saleh, Acting High Commissioner of Bangladesh will participate in the fair.
Vice president of ITFAA, Rajesh Das told ET, "After several years Pakistan is participating. Bangladesh is also bringing a large contingent in the fair."
(Sources: Economic Times, Indiatimes, North-East News Portal, Biz Trade Show)
RBI forecasters cut growth projection for FY13 to 5.5%
The economy is likely to grow by 5.5 % this financial year, according to the Reserve Bank of India’s (RBI) survey of professional forecasters. An earlier round of survey had projected GDP growth rate of 5.7 % for the year.
For the next financial year, forecasters said that the economy is likely to expand by 6.5%, RBI said in its macroeconomic and monetary development report released on Monday.
Services GDP growth, the biggest contributor to overall GDP growth, is likely to be 7.4 %, down from the earlier projection of 7.8 %. Industry growth has been revised to 2.8 % from 3%. Agriculture and allied activities have been pegged at 1.5 %, up from the earlier 1.4 %.
(Sources: Business Standard, Moneycontrol, i4u, Smart Investors, Hindustan Times)
DISA India to focus on developing hi-end foundry equipment in India
DISA India, a leading supplier of high technology foundry equipment has decided to focus on developing hi-end foundry equipment in the country drawing from its rich global expertise in the area. The company, part of the Denmark-based DISA group, is planning to increasingly collaborate with its global arms to jointly develop and manufacture cost effective products at its manufacturing facilities near Bangalore.
The 5000-strong foundry industry in India has immense potential. However, the industry is suffering from lack of skilled labour and is thus increasingly opting for automation. DISA hopes to make high-end technology affordable by localizing equipment.
Headquartered in Bangalore, DISA India has been a key player in foundry and surface preparation process technology.
(Sources: Economic Times, Indiatimes, Bull Fax, Worldnews, India Everyday, i4u)
Foreign retailers can source from anywhere in India: Anand Sharma
Commerce and Industry Minister Anand Sharma today said it would be up to global retail chains to source products from across India or from a state depending on logistics as 100 % FDI is allowed in back-end chain.
The minister, who had met Walmart International CEO Doug McMillon and Tesco Chairman Richard Broadbent separately in Davos last week, also said they were seeking clarity on India's FDI policy in retail.
(Sources: Economic Times, Indiatimes, Firstpost, India Everyday, India Retail News)
Rate cuts to spur growth, ease liquidity situation: India Inc
Reeling under slowdown, India Inc today hailed Reserve Bank's move to reduce repo rate and CRR by a quarter per cent, saying it will spur growth and ease the prevailing tight liquidity condition.
"It is a positive step which will infuse liquidity and help in catalysing growth," Industry Minister Anand Sharma said in Agra.
Industry houses are emphatic with the RBI pruning repo rate and CRR by 0.25 % each after a long nine months in its third quarter monetary policy review.
(Sources: Economic Times, Indiatimes, Indian Express, Business Standard, IBNLive, Zeenews)
India's 2012-13 foodgrain output to be less than last year's
India’s overall foodgrain production in the 2012-13 crop marketing year that would end in June 2013 was expected to be around 250 million tonnes, nine million tonnes less than last year’s revised record output of almost 259 million tonnes because of low production during the kharif sowing season, Agriculture Secretary Ashish Bahuguna said today.
According to the government’s first advanced estimate, foodgrain production during the 2012-13 kharif season is expected to be almost 9.8 % less than the kharif production of 2011-12 because of an uneven southwest monsoon in most parts of the country.
However, production of wheat during the ongoing rabi harvest season is expected to near 2011-12’s harvest of around 94 million tonnes.
(Sources: Business Standard, Hindu Business Line, Smart Investors, NDTV, Times of India)
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