สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 14 พฤศจิกายน 2555
Thai govt seeks preferential access for restaurants, massage parlours under trade pact
For long, India's trade negotiators have dealt with tricky issues such as cutting import duties on cars, spirits or farm goods or allowing foreign lawyers and auditors to practice in India. But they had never come across requests for massage parlours or spas.
Thailand has demanded that its restaurants get preferential entry into India and also asked for dropping conditions such as local sourcing and minimum investment that are prescribed for retail chains that use the India-Thailand treaty.
Commerce department officials told TOI that Thai negotiators have demanded almost everything that Indians look out for when they go to Bangkok, a regular port of call for several locals, be they shopkeepers or law makers.
Officials said the issues were "under active consideration" and even Prime Minister Manmohan Singh has been briefed about the proposals.
(Sources: Times of India, Indiatimes, Worldnews, Topsy.com)
Exporters demand tax exemptions for SEZs, funds for SMEs
India's exports shrunk by 1.6 % to $23.25 billion in October, mainly because of contraction in global demand. Imports went up by 7.37 % to $44 billion, widening the trade deficit to a record high of $20 billion.
Exporters have made recommendations including creation of an export development fund for SMEs, tax exemptions for units functioning in Special Economic Zones
Scope of zero-duty EPCG (export promotion capital goods) scheme likely to be enlarged and exports via e-commerce would be given FTP benefits.
The commerce department is likely to provide incentives to exporters from the Budget allocation of $ 304 million for the current financial year
(Sources: Business Standard, Smart investors, i4u, FIEO, Moneycontrol, Invest India)
CLSA applauds Gujarat's growth model
Gujarat has a far better chance, according to analysis by research firm CLSA, of sustaining its high growth trajectory in the next few years as compared with competing states such as Maharashtra and Tamil Nadu.
Other industrialising states such as Maharashtra and Tamil Nadu have seen a fall in the share of industry in overall Gross State Domestic Product (GSDP). “The state’s industry GDP contribution to the national GDP has consistently increased from 8-8.5 in 2000-01 to 11-1.5 per cent in FY11,” the report said.
(Sources: Business Standard, Smart investors, i4u, Rediff News, Hindu Business Line)
India Oct inflation likely picked up to 11-month high
India's inflation probably accelerated to an 11-month high in October, likely adding to growing tensions between the government and the Reserve Bank of India (RBI) as the economy looks set for its slowest growth in a decade.
A Reuters poll of 27 economists this week showed they expect wholesale prices rose an annual 7.96 % in October, compared with 7.81 % in September.
A hike in government-regulated fuel prices and ensuing higher transportation prices also significantly raised food prices, the poll showed. Most economists expect inflation to remain high before cooling off a bit early next year.
(Sources: Reuters India, Hindustan Times, Moneycontrol, i4u, IBNLive)
Retail inflation rises marginally to 9.75%
Driven by rising prices of food items such as sugar, pulses and vegetables as well as clothings, retail inflation moved closer to the double digit mark at 9.75 % in October.
It was 9.73 % in the previous month, according to the Consumer Price Index (CPI) data released on Monday.
Meanwhile, industrial growth has slipped in the negative territory at 0.4 % in September, compared to a growth of 2.5 % in the same month last year, which indicates persistent sluggishness in the economy.
(Sources: Economic Times, Business Standard, Financial Express, Hindu Business Line, Livemint)
Economic Section
Royal Thai Embassy