Monsoon stalls, drought a fear after mid-July
India's monsoons should improve next week, Agriculture Minister Sharad Pawar said on Tuesday, as concerns grow that the progress of the crucial June-to-September rains has halted and has hit the sowing of some crops in the major food producer and consumer.
The farm sector accounts for about 15 % of a nearly $2 trillion economy, Asia's third-biggest. Good harvests keep up rural incomes and in turn demand for gold and consumer goods.
(Sources: Reuters India, Business World, Economic Times, Indiatimes, Worldnews)
Honda Motorcycle & Scooter India touches 10 million cumulative sales mark in India
From achieving its 1st million mark in five years to achieving the last 10th million in just 5 months, Honda Motorcycle & Scooter India (HMSI) has grown to meet increasing customer demand in India, the world's second largest two-wheeler market and a priority market for Honda for the next decade.
HMSI has rapidly increased its network. In current FY'2012-13, Honda aims to add 500 new touch-points and take its growing network to 2000 touch-points in a bid to spread its reach and provide service closer to customer.
(Sources: Business Standard, Moneycontrol, Economic Times, Indiatimes)
Women ride scooters back onto Indian roads
Six years ago, India's two-wheeler market was dominated by motorcycles, whose share came to 84%. Now, that pie has significantly reduced to 75%, with scooters making a comeback on Indian roads. Most of this growth is being driven by an unlikely segment - women customers.
In May, the scooter segment grew 34% while motorcycles managed a modest 7%. Scooters have seen their share in the overall two-wheeler pie go up from 12% to 19% in the last six years. Their sales growth routinely outruns motorcycles.
(Sources: Times of India, Moneycontrol, Economic Times, Indiatimes, Worldnews)
Nomura lowers growth projection for 2012 to 5.5 per cent
Attributing economic slowdown in India to monetary and fiscal policy, global financial service provider Nomura has lowered the country's GDP growth projection for 2012 to 5.5 per cent from 6.1 per cent. It has also lowered the projection for India's economic growth for 2013 to 6.6 per cent from 7.1 per cent.
(Sources: Business Standard, Zeenews, Moneycontrol, Economic Times, Indiatimes)
Delhi-Mumbai Industrial Corridor one of 100 innovative global projects: KPMG
The Delhi-Mumbai Industrial Corridor project has featured in a list of world's most innovative and inspiring infrastructure projects by consultancy firm KPMG.
The USD 90-billion Delhi-Mumbai Industrial Corridor project is aimed at creating industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor, which is under implementation.
The Delhi Mumbai Industrial Corridor aims to meet challenges by creating globally competitive environment and world class infrastructure to activate local commerce, enhance foreign investment, create employment opportunities, enhance exports and attain sustainable development.
(Sources: Hindu Business Line, Zeenews, Financial Express, Economic Times, Indiatimes)
India improves ranking in Global Innovation Efficiency Index
India has jumped to the second position in the Global Innovation Efficiency Index in 2012, from 9th position last year, according to a study.
Countries which are strong in producing innovation outputs despite a weaker innovation environment and inputs are poised to rank high in the efficiency index.
It said that in Central and Southern Asia, India is the regional leader in Global Innovation Index.
(Sources: Times of India, Hindustan Times, Economic Times, Indian Express, Zeenews)
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