สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 19 กุมภาพันธ์ 2557

Thailand's Srithai Superware to set up first Indian plant at Sanand

Melamine tableware maker Srithai Superware is set to commence its operations in India with its first manufacturing plant in Sanand industrial estate, near Ahmedabad. The factory will commence operation in 2015. The Thailand based company has invested Rs 57 crore (US$ 9.2 million), initially and will invest Rs 229 crore (US 37 million).over four plants in the next 10 years. The company plans to export the products to neighbouring countries, once the manufacturing unit is operational. Sanan Angubolkul, chairman and president, Srithai Superware PCL, said, "Our products are much-suited to Indian dining habits. Having a manufacturing unit in India, we are expecting exponential growth in the business, as customers can get the products faster and at better prices."  The Thailand-based company initially entered the Indian markets in the year 2009 marketing their brand Ektra© range*, a high-quality range of Melamine products for metro living. The range offers exclusive sets like the soup set, the pasta set, the salad set, high-end dinner sets and many other such products to cater to modern food habits, needs and requirements.

(Source: Times of India & Business Standard)

China pips India in gold consumption

China has overtaken India as the world's largest gold consumer, according to a World Gold Council report released on Tuesday. While Chinese consumers lapped up 1,066 tonnes of gold products in 2013, their Indian counterparts bought 975 tonnes, up 13% from 2012, the report said.  India's demand came down to 974.8 tonnes following wide-scale curbs imposed by the government to tame hunger for the precious metal, according to WGC's 'Gold Demand Trend 2013'. Despite the massive increase in customs duty and many restrictions that the Centre put on jewellery imports, India consumed more gold than 2012, when it stood at 864 tonnes. In China, the total demand stood at 806.8 tonnes in 2012.

(Source: Times of India)

Global rubber output to be up 3.4 per cent at 12 mt in 2014

Global production and consumption of natural rubber (NR) in 2013, according to the International Rubber Study Group (IRSG) estimates, were 11.7 million and 11.3 million tonnes, respectively (a surplus of 0.4 million).  It forecasts production and consumption in 2014 at 12.1 (3.4 per cent higher) and 11.9 million, respectively (a surplus of 0.2 million). In 2013, production and consumption grew three per cent and 2.5 per cent, respectively, said Chairman Sheela Thomas at the annual general meet of the Rubber Board at Kottayam.  She said domestic production in 2014-15 was projected at 950,000 tonnes and consumption at 1,010,000 tonnes (a deficit of 60,000 tonnes). Still, there will not be a shortage, as there will be 260,000 tonnes by March-end 2015. “Production and consumption in India declined during April 2013 to January 2014 compared to a year ago. Production was 9.4 per cent lower on a year ago.  Production in this period was provisionally estimated at 723,000 tonnes. The main reasons for the decline were excessive rains, leaf diseases and low prices. However, the area increased from 504,000 hectares in 2012-13 to 518,000 hectares in 2013-14.” Imports and exports of rubber were 279,627 tonnes and 5,357 tonnes, respectively, during the period. Around 71 per cent of the imports were block rubber. Tight supply of rubber in the domestic market and the difference between the prices of RSS-4 grade in the domestic market and TSR-20 in the global one were the main reasons for the high import volumes.

 (Source: Business Standard)

 'Developing Asia led by China, India to grow by 6.5 pct in 2014'

The prospects of economic growth look brighter and countries in developing Asia, led by China, India and Indonesia, are expected to grow by 6.5 per cent in 2014, a Grant Thornton report says. According to the audit and advisory firm, prospects for this year look brighter with robust growth forecast in large developed economies, the economies of developing Asia and sub-Saharan Africa and the Middle East. Growth in developing economies as a whole slowed in 2013, but they are still expected to expand faster than developed economy peers in 2014. Moreover, rising business confidence in the economic outlook has fuelled a resurgence in growth prospects with businesses globally more willing to take on risks and expand their operations. As per the report, BRIC businesses are more confident about rising profits (47 per cent), while G7 business leaders’ expectations have risen to just 36 per cent. The report further noted that economic uncertainty was cited by 42 per cent of respondents as the principal constraint on their expansion plans in 2014, followed by bureaucracy -- the second most pressing constraint globally. Around 32 per cent of business leaders said demand constraints are likely to hinder growth prospects in 2014 while lack of skilled workers is also a cause of concern. Lack of skilled talent is a much greater concern in BRIC economies (39 per cent), compared with the G7 economies (26 per cent).

(Source: Financial Express)

 Economic Section

Royal Thai Embassy