Retail FDI sparks hope, despair for traders' bodies
As political parties across the line are busy deliberating over their stand on the Union government’s decision to allow 51 % foreign direct investment (FDI) in multi-brand retail, the decision has evoked mixed response from stakeholders.
While traders’ associations are opposing the decision tooth and nail, saying the decision could ruin small traders, for the Independent Grocers Alliance (IGA), the decision could certainly spell more business opportunities.
IGA is an alliance of independent grocery stores with 5,000 independent stores across countries including the US, Australia, Japan, China, Russia and Thailand.
(Sources: Business Standard, Economic Times, Indiatimes, i4u)
12th Five-Year Plan: Power generation capacity of 88,000 MW targeted for 2012-17
The Planning Commission has set a target of adding over 88,000 MW of power generation capacity in the 12th Plan period (2012-17).
"In order to bridge the gap between peak demand and peak deficit, and provide for faster retirement of the old energy inefficient plants, the target for the 12th Plan has been fixed at 88,425 MW," said the 12th Plan document.
The share of the private sector in the additional capacity will be 52 % compared to the target of 19 % in the 11th Plan. It is important to build a policy framework within which more private sector investments will be forthcoming in the 12th plan period, the document said.
(Sources: Business Standard, Economic Times, Indiatimes, Zeenews, Worldnews)
India ranks 7th in corporate governance in Asia-Pacific: CLSA
India has been ranked in the seventh place in terms of corporate governance score in Asia Pacific region, says a report by global brokerage firm CLSA.
According to the CLSA Corporate Governance Watch 2012 list, produced in collaboration with the Asian Corporate Governance Association, India's corporate governance score has improved by 3 percentage points but ranking has remained the same.
(Sources: Business Standard, Economic Times, Indiatimes, Financial Express, NDTV)
April-August sees $ 33.73 billion worth projects getting shelved: CMIE
That the economy is on steep slide on the back of drying up investments is clear from the fact that corporates have shelved projects worth whopping $ 33.73 billion during April-August, according to the data from the Centre for Monitoring Indian Economy (CMIE).
The prime reason behind shelving of projects was problems being encountered in land acquisition, securing environmental clearances, local unrest, lack of availability of fuel or raw materials, particularly the mined ones like coal and iron ore, the CMIE said.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Indian Express)
India may not achieve export target of $360 bn in FY13: Ficci
The exports target of $360 billion for the current fiscal is unlikely to be achieved due to the global demand slowdown, a survey said today.
The country's exporting community is not optimistic about a possible improvement in the overall export conditions over the next two quarters, according to Ficci's Export Survey.
It added that rising cost of raw materials and weak demand from overseas are primary factors that are bothering members of the Indian export community.
India's exports plummeted by 9.7 % in August, a deceleration for the fourth consecutive month.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Zeenews, Worldnews)
FIIs infuse over USD 1.67 billion in Sept
Betting high on India's reform initiatives, foreign investors have pumped in more than about USD 1.67 billion in the country's equity market so far this month.
Analyst expects inflows will continue in the coming months as well.
Foreign Institutional Investors (FIIs) investment in the country's equity market has reached to USD 13.97 billion so far in 2012.
Market analysts believe that huge inflows was mainly on account of recent big-ticket announcements by government, including operationalisation of 51 % FDI in multi-brand retail, allowing foreign carriers to buy up to 49 % stake in domestic airlines.
(Sources: Economic Times, Indiatimes, Financial Express, Indian Express, Express India)
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