Karnataka ranks third in FDI inflows with $10.14 bn
Karnataka has emerged the third largest investment destination for foreign direct investment (FDI) in the country during the last decade. The state has received a cumulative investment of $10.14 billion between 2000 and August 2012, ahead of Gujarat and Tamil Nadu, which have seen much higher industrial investment projects during this period.
According to the Economic Survey of Karnataka for 2012-13, the total FDI inflows to the state in the last decade accounted for 6 % of the total FDI inflows to India. The ranking is based on the data provided by the Reserve Bank of India (RBI).
Gujarat stood at the fourth position with an FDI inflow of $8.34 billion and accounted for 5 % of the total share of FDI inflows. Tamil Nadu and Pondicherry together accounted for $9.14 billion and had a share of 5%. Andhra Pradesh was the next big investment destination and received $7.13 billion FDI with a share of 4 % in the total inflows.
The total FDI inflow into the country during the last ten years amounted to $179 billion, the data compiled by Department of Industrial Policy and Promotion, government of India showed.
(Sources: Business Standard, Smart Investors, India Everyday, Rediff News)
HSBC, Morgan Stanley cut India's 2013-14 GDP growth forecasts
Morgan Stanley and HSBC each cut their India's economic growth forecasts for 2013/14 to 6.0 % from 6.2 % to reflect lower-than-expected growth in the October-December quarter.
HSBC says it expects 50 basis points of additional rate cuts in the calendar year 2013, and "a slightly more protracted recovery" in India.
Morgan Stanley says domestic and external environment still remain "challenging," but notes that an improving growth in the agriculture sector, a slight pick-up in export growth and more stable private capital expenditure could help improve economic growth.
(Sources: Indian Express, Livemint, Reuters India, Zeenews, NDTV, Business Standard, Moneycontrol)
Auto market size to triple to 9.3 million units by 2020: JD Power
Car sales in India may be on a downslide at present but global marketing information Services Company JD Power believes that the total automobile market size will triple to 9.3 million units by 2020.
Driven by enhanced demand as the number of people with disposable income increases, the sector will grow at a compounded annual growth rate of 16 % during the period, the market research firm said.
Further, the infrastructure improvement in India will also play a role in the growth of the automobile market.
(Sources: Economic Times, Indiatimes, NDTV, Financial Express, Smart Investors, India Everyday)
Feb retail inflation at a high of 10.9%
The consumer price index (CPI)-based inflation reached a peak of 10.91 % in February, against 8.83 % in the corresponding period of the previous year and 10.79 % in January. The inflation was largely driven by high food prices. The data for February’s wholesale price index (WPI)-based inflation is likely on Thursday. It saw a considerable deceleration in January, at 6.62 % against 7.18 % in December.
These numbers assume importance as the Reserve Bank of India (RBI) is scheduled to announce its mid-quarter review of monetary policy on March 19.
RBI has forecast the March-end WPI inflation to be 6.8 %. Meanwhile, industrial output growth rate grew by 2.4 % in January, compared to a growth of 1 % in same month last year.
(Sources: Business Standard, India Everyday, Livemint, Economic Times, Moneycontrol)
Delhi, Mumbai, Hyderabad airports among top 5 in the world
Airports of Delhi, Mumbai and Hyderabad are among the top five airports in the world providing international standard services.
Airports Council International (ACI), a global body of airports, has adjudged Delhi's Indira Gandhi International (IGI) airport as second best after Seoul's Incheon airport in the category of airports handling 25-40 million passengers per annum (MPPA) for their service quality for the year 2012.
Mumbai's Chhatrapati Shivaji International airport was adjudged the third best in this category, an ACI statement said.
Hyderabad's Rajiv Gandhi International airport (RGI) has bagged the second position for their service quality in the category of five to 15 MPPA. Japan's Nagoya airport was adjudged the best in this category.
(Sources: Economic Times, Indiatimes, Times of India, Free Press Journal, APN News, India Everyday)
Gujarat tops growth chart in per capita food consumption expenditure
Gujarat has achieved 28 % growth in per capita food and 33 % rise in non-food consumption expenditure across India in 2004-05 and 2009-10, a study by industry body ASSOCHAM said today.
Besides, registering a growth of about 24.69 %, Gujarat has also topped in terms of household consumption of fast moving consumer goods (FMCG) during the aforesaid five year period, it said in a study titled 'Evolution of Indian Rural Markets During 2004-05 to 2009-10'.
(Sources: Economic Times, Indiatimes, Business Standard, Smart Investors, Worldnews)
India's Jan industrial output up 2.4%, analysts views
India's industrial output grew a faster-than-expected 2.4 % in January from a year earlier, government data showed on Tuesday. Analysts polled by Reuters had expected the output to grow 1.2 % annually.
Revised data for December showed production at factories, mines and utilities shrank 0.5 % compared with 0.6 % contraction earlier.
Manufacturing, which constitutes about 76 % of industrial production, grew 2.7 % from a year earlier.
Meanwhile, annual consumer price inflation accelerated to 10.91 % in February from the previous month, government data showed. Consumer prices rose an annual 10.79 % in January.
(Sources: Economic Times, Indiatimes, Hindustan Times, Express India, Smart Investors, IB Times)
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