สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 28 กุมภาพันธ์ 2557

India best investment place for sugar, technology, farming sectors: Experts

Being the second largest producer of sugar in world, India provides best investment destination in areas of engineering, technology and farming sector, according to experts.  The country provides best investment destination in areas of engineering, technology and farming, feel industry experts attending the '6th Sugar Asia 2014' opened here today. "In a positive move, the Central government has allowed mills to sell their complete sugar produce in open market without any restraint. This step has been awaited from past many decades. This has opened the paths for mergers, acquisitions and new mills erection," a statement issued by the organisers said. The two-day event showcases various equipment and technology, used in production of sugar, and in allied industries like ethanol, distilleries, bio-energy and cane farming, on display. The exhibition displays latest technology being used for sugar production and allied industries like gear boxes, packaging solutions, cube-making machines, etc. Asean countries, with collective population of almost 600 million, produce over 17 million tonnes of sugar, experts said, adding that the annual consumption of sugar by these countries is 15 million tonnes, the per capita figure comes at around 23 kg. With the Asean free trade zone is set to get operational in 2015 the industry provides good investment opportunities, experts said. The global sugar market is set to be in surplus for third time on trot. While production of sugar has grown for all major exporters like Thailand, Brazil, Mexico, etc, the International Sugar Organisation (ISO) forecasts 2013 global sugar supplies to surpass demand by nearly 6 MT.

(Source: Economic Times)

India is largest shrimp exporter to US

Last year, India was the largest exporter of shrimps to the US, a first. Shrimp exports to the US, which stood at 94,000 tonnes (about half India’s overall shrimp exports), were valued at $1 billion. India is now the eighth-largest exporter of food items to the US.  Speaking to Business Standard, AJ Tharakan, president of the Seafood Exporters Association of India, said Thailand, the previous largest shrimp exporter to the US, had recorded low production last year, owing to the outbreak of a disease called the Early Mortality Syndrome (EMS). Aquaculture production in Thailand fell about 50 per cent due to the outbreak of EMS. Thakaran said globally, shrimp prices had increased substantially, adding further increase was unlikely. In India, raw material costs for shrimp exports had increased to Rs 600 a kg. “So, further rise in export prices might affect our business with the US. The consumer resistance is already strong in markets such as the US and Europe,” he said. Thakaran said the premium quality of Indian shrimps attracted importers in the US market

(Source: Business Standard)

Jewellers go slow on expansion as curbs hurt demand and supply

The regulatory curbs on the jewellery sector have left Indian jewellers grappling with not only tough supply conditions but also a tight demand scenario. Not just the gloom in overall consumer sentiment caused by the slowing growth of the economy, experts say the difficult regulatory environment is directly hurting consumer demand too.  The sharp rise in the premium between domestic gold prices as a result of the higher import duties (10% currently) and international gold prices is sending non-resident Indians that constitute about 15-20% of total jewellery sales to make their purchases outside the country where jewellery can be procured at a 10 to 25 per cent discount to India prices. A spokesperson of Tara Jewels, a listed jeweller has said that, "our company has decided to restrategise the current indian retail business to adopt to the current regulatory framework." for medium to long term also, company says, "company proposes to continue to expand its retail business through asset light franchise model and shop-in-shop model." "Jewellers are consolidating given the tougher/ costlier gold supply scenario and low sales productivity. There is a liquidity crunch and neighbouring countries are flourishing with business from Indian customers," says Haresh Soni, Chairman of the All India Gems and Jewellery Trade Federation. In all, with the mandatory 20% export rule limiting jewellers ability to import raw material of gold and a requirement for cash for gold, coupled with already low demand, jewellers are having to rethink their expansion plans.  However, Somasundaram PR, MD (India), World Gold Council believes the picture will look better in the second half of  calendar year 2014. "Even if you consider that 140 million people have come out of the poverty line between 2005 and now - the first asset class they would perhaps put their money in, is gold. Even if they buy 5 grams of golds it will make huge difference to demand." WGC estimates gold demand in 2014 to perhaps touch 1000 tonnes and be weighted in the second half of the year when some relaxation of the regulatory curbs may be seen in a post-election scenario.

(Source: Business Standard)

Indians travelling overseas to reach 50 million by 2020:Survey

According to a report presented by Strategic Partners Group (SPAG) Asia, India has emerged as the world's fastest-growing outbound market and in absolute numbers it is second only to China. The number of Indians travelling overseas is set to rise from around 15 million today to 50 million by 2020. The report aims to highlight the different aspects of the outbound travel industry as well as provide direction for various players, ranging from tourism officers of various countries and destinations as well as travel and hospitality players to anyone who has interest in the sector.  According to the report, 57 per cent Indians share their photos on social networks like Facebook and Twitter, a trend led by Malaysians. 54 per cent of Indians email/text photos to family/friends, followed by South Korea at 51 per cent and the US at 47 per cent. 34 per cent blog about their experience, sharing photos/videos, a trend led by South Koreans at 39 per cent. Indians are among the most fun loving people when on vacation, with the highest percentage of any nationality being involved in various activities such as spa (47 per cent), playing volleyball (43 per cent), water sports (52 per cent) and running (65 per cent). India has the second highest percentage of shopping lovers on vacation, with 76 per cent of people indulging in shopping while on vacation. India stands third when it comes to enjoying nightlife/dancing, with 51 per cent of Indians going for it, led by Brazilians at 64 per cent and Mexicans at 57 per cent. The top five activities that Indians indulge in at the beach include walking at 85 per cent, swimming-67per cent, running/jogging-65 per cent, people-watching- 62 per cent, and sunbathing at 53 per cent.

(Source: Financial Express)

Economic Section

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