สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 11 กรกฎาคม 2556

To Boost Flipkart Prospects
In a fifth round of funding for Flipkart, the largest Indian online retailer, there were companies like Naspers and Tiger Global and Iconiq Capital present. The report said Flipkart has raised $200 million from existing investors, in which it marks the single-largest round of funding for an Indian e-commerce company and provides it with enough firepower to take on global leader Amezon.

The deal values Flipkart at $1.5 billion. Therefore, this deal has refuted the skepticisms about Flipkart and E-commerce which is very prevalent in India. Experts are of the will that this round of capital will boost Flipkart's prospects as it fight to retain its first-mover advantage in the Indian e-commerce market. Besides, the level of this capital will extend its lead, which will be a more challenge to Amezon.

India's e-commerce industry is emerging as a battle ground for the world largest online retailers. So far in this sector, there have been 22 deals this year which worth Rs. 950 crore, according to a research firm-Venture Intelligence. By the 2015, Flipkart is aiming at over Rs. 6,000 crore in sales, and has around 500 sellers on its platform and intends to scale this up in a few months.

(Source: the Financial Express, the Economic times, Business Standard)

Spotlight in Narayana Murthy Ahead of Infosys Result
Infosys' first earnings announcement after the return of Narayana Murthy is expected to put him under the spotlight as analysts look for signals about the company's return to health.

Analysts said that they expect signs of revival and return of growth momentum in about three quarters. They expect its growth from 6% to 10% given at the beginning of the fiscal. However, while expectations are high, it is not so much about the first quarter numbers, but about visibility into the future growth. According to Sandeep Muthangi, an analyst with IIFL, what anaysts will be watching out for is details on the roadmap and the specifics on the changes that Murthy is seeking to bring about.

(Source: Business Standard, the Financial Express)

Foreign Retailers wait India's polls before Investing
The government resolutely faced a vote of non-confidence in Parliament last year over its decision to allow entry to foreign supermarket, but it is unlikely to reap any benefits as global retail chains have decided to wait for the outcome of the state polls later this year and general election of 2014 before pledging investment.

The main reason is a very strong opposition of BJP party. This opposition makes foreign investors nervous because if the BJP win election they might be forced to leave the country, or source local 50%. Therefore, foreign retailers are waiting. However, the central government may shortly announce a fresh set of clarifications that could ease foreign retailers' entry norms.

(Source: the Economic Times)

Chidambaram to ask US to invest in India
Chidambaram, finance minister, in his four-day trip in the US, is set to meet the US trade representatives. He arrived in the US not only to address the concerns of the US regarding on India's economic policies, at the time rupee is down, but also to pitch among investors for a fresh wave of foreign direct investment in key sector like infrastructure. Currently, the minister is to deliver a key-note address at the 38th annual leadership summit of the US-India Business Council and meet his American counterpart Jack Lew. And he is scheduled to meet a host of corporate leaders as well.

(Source: the Financial Times)

Indonesia coal export rules worries Indian power firms
Indonesia's plan to restrict coal export is to impact Indian power producers directly. It's because Indonesia accounts for 70 per cent of India's annual thermal coal import of around 110 million tonnes (mt). "It's imperative for Indonesia to tighten its control on exports to secure long-term supply. As there is low domestic consumption of coal till date, the Indonesian government is still evaluating the new regulation that could ban the export of low-grade coal (that below 5,100 kcal) by 2014," Indonesia's Ambassador to India, Rizali W Indrakesuma, said.

Reacting to the development, India's largest private-sector electricity producer, Tata Power, said: "Each sovereign government will take decisions specific to its priorities; we will abide by it. India will have to work on its energy security on the basis of robust options." The company has a current installed capacity of 8,521 Mw, including the 4,000-Mw Mundra project, which is based on imported coal.

Experts said there would be an immediate impact on the operational cost of producers.
And the impact would largely be nullified in the long run. Furthermore, there would be a direct impact on power prices, especially for plants dependent on imports, with the latest pass-through rates for imported coal coming into picture.

(Source: Business Standard, the Financial Times)

Economic Section
Royal Thai Embassy