สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 27 กุมภาพันธ์ 2557

MCX cuts transaction charges to push up volumes

The Multi Commodity Exchange (MCX), India's biggest exchange in terms of volumes, has cut transaction charges on futures contracts of all commodities effective Wednesday, in a bid to push up battered volumes. Volumes at the MCX fell 39 percent to 76 trillion rupees in the first ten months of the fiscal year beginning April 2013, as investors lost confidence in the exchange after a payment crisis at its spot exchange and restrictions on import of gold, triggering calls among industry participants to revive sentiment. Transaction charges in precious and base metals and energy contracts have been cut to 2.10 rupees from the earlier 2.5 rupees for every 100,000 rupees of turnover for members generating an average daily turnover of up to 3.5 billion rupees, and 1.40 rupees per 100,000 rupees on incremental turnover above 3.5 billion rupees, the company said in a statement. "Cost of transaction will come down for day traders, so it is a good move. This will help in day traders making multiple and frequent transactions," said Harish Galipelli, vice-president research with Inditrade Derivatives and Commodities. The bourse has also slashed transaction cost on agricultural commodities by 70 percent. For agri-commodity contracts, MCX said it has reduced the fee to 0.75 rupee for every 100,000 rupees of turnover for members generating monthly average daily turnover volume of up to 200 million rupees, and 0.50 rupee per 100,000 rupees on incremental turnover above 200 million rupees.

(Source: Reuters India)

India can grow faster if it executes investments: Rangarajan

India's economy could grow at an annual rate of as much as 7 percent if large-scale investment projects are implemented quickly, C. Rangarajan, Prime Minister Manmohan Singh's economic adviser said on Wednesday. Economists expect figures on Friday to show that gross domestic product grew by just 4.9 percent in the final quarter of the 2013 calendar year, close to its lowest in a decade. Capital investment is still stagnant even after a cabinet task force set up by Singh last year fast-tracked the approval of infrastructure projects worth $80 billion - equivalent to around 5 percent of gross domestic product.

(Source: Reuters India)

Modi for plan to make North East an economic hub

BJP’s prime ministerial candidate Narendra Modi has asked his think tanks to draw up a comprehensive plan to make the north east region one of the economic hubs of the country. Modi, who has made a couple of trips to the region during the current election campaign and accused the CPA government of neglecting it, is exploring setting up an expert group to advise him on how to revamp the Ministry of DONER (Development of North East Region) if NDA comes to power. Sources said the Gujarat Chief Minister has asked his think tanks to draw up a comprehensive plan to tap the potential of the huge water resources in the region.  He had also proposed at a recent meeting of the Chief Ministers of north east states send 1,6000 women police personnel to Gujarat so that they could create awareness about people on the region's rich culture and heritage, which in turn, would boost the tourism industry there. Modi has also asked the party units in the north eastern states to focus on the aspirations of more than 400 insular ethnic groups in the region, which has 25 Lok Sabha seats. Congress-led UPA has 21 of these seats. The DONER ministry, which was set up by the Vajpayee government, is responsible for matters relating to the planning, execution and monitoring of development schemes and projects in the north eastern region.

(Source: Business Standard)

Adani Ports to set up Rs 1,270 crore container terminal at Ennore

Private port operator Adani Ports and Special Economic Zones Ltd will develop a container terminal at Ennore Port at a cost of 1,270 crore. The company won the order after it offered the highest revenue share of 37% to the port during the bidding process.  Ennore Port, which on Wednesday was renamed Kamarajar Port, had called for bids for the second time in June 2013 after a consortium led by Spain-based Grup Maritim TCB withdrew its offer in 2012 to build the terminal. The port will sign a formal agreement with Adani this week, Union minister for shipping G K Vasan said.  The terminal is expected to have a quay length of 730 metres, with a capacity to handle about 1.4 million TEUs or 'twenty-foot equivalent unit' a year. The terminal will be developed on a designbuild-finance-operateand-transfer model with a concession period of 30 years.  This project apart, the Kamarajar Port this week is also planning to sign a Memorandum of Understanding (MoU) with Indian Oil Corporation for setting up an LNG terminal at a cost of 4,512 crore, and issue a Letter of Award (LoA) to Chettinad Builders & SICL to construct a multi-cargo terminal at a cost of 151 crore, Vasan said. Plans are also on to set up a third coal berth to handle coal for the state electricity utility Tangedco, he said. With this, the capacity of the port is expected to go up to 62 million tonnes per annum from 30 million tonnes per annum now.

(Source: Times of India)

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