สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 8 มกราคม 2555
Gujarat govt to focus on tie-ups, won’t disclose investment details
Wiser with experience, Narendra Modi-led Gujarat government is shifting focus from the value of likely investment in the western state to agreements signed at the forthcoming Vibrant Gujarat Global Investors’ Summit, a meet held in Gandhinagar every alternate year to showcase the state as a favourable investment destination.
This year’s summit is scheduled for 11-12 January.
At the 2011 summit, Modi had declared that 8,380 business pacts worth $463 billion had been signed at the two-day event.
This time the government has decided to focus on the number of business agreements signed and not reveal the investment figures. One of the main reasons behind this is low rate of translation of pacts into real investments. The theme for this year’s summit is knowledge sharing, strategic tie-ups and small and medium scale industries.
(Sources: Economic Times, Indiatimes, Livemint, Worldnews, Zeenews, IBNLive)
UP attracts $ 1.81 billion investments in last 10 months
The 10-month old Akhilesh Yadav government in Uttar Pradesh on Monday claimed to have clocked investment of almost $ 1.81 billion so far. The investments have come in various sectors, including dairy, rural industries, beverages, food processing, petrochemicals, steel and leather.
UP is the partner state in the 19th edition of the Confederation of Indian Industry (CII) Partnership Summit at Agra during 27-29 January 2013. The event is being jointly organised by the Union Commerce and Industry Ministry, with the theme ‘Global Partnerships for Enduring Growth’.
The state is gearing up to showcase its new industrial policy and the sops already announced with a view to securing more investment. Over 80 foreign business delegations had confirmed their participation at the Summit.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Business Standard, Indian Express)
FDI in retail may not help farmers: Stiglitz
Economist Joseph Stiglitz on Monday said India’s decision to ease overseas investment rules in retail may not necessarily benefit farmers in the country.
“There is concern in this area that some MNCs (multinational companies) might use their monopsony power, their ability to access cheap goods from China, and use that monopsony power to give them a competitive advantage. That’s not a good basis for growth,” the Nobel laureate said.
Monopsony is a market similar to a monopoly except that a large buyer, and not seller, controls a large proportion of the market and drives the prices down. It is sometimes referred to as the buyer’s monopoly.
Stiglitz, a former chief economist at the World Bank, was not convinced with the view that bringing in foreign firms will make supply chains more efficient and benefit local farmers.
(Sources: Livemint, Investment Map, My Bangalore, Rediff, Firstpost, Moneycontrol)
DM Health to invest $ 408 million in Kerala
Dubai-based DM Healthcare, which has a network of 150 healthcare establishments in West Asia and India, has prepared an ambitious expansion plan of $ 408 million for Kerala in the next three years.
The group is investing $ 90.60 million for the Aster Medicity, $ 45. 32 million for Wayanad Medical College and Hospital and $ 18 million for a 200-bed multispecialty hospital in Kannur
(Sources: Business Standard, India Everyday, i4u, Hindu Business Line, NDTV, IBNLive)
TN eyes 4,000-Mw plant in Chhattisgarh
Tamil Nadu power minister N R Viswanathan on Monday met Chhattisgarh Chief Minister Raman Singh to discuss setting up a 4,000-Mw thermal power plant in the central state. Karnataka is setting up a 1,600-Mw plant in Chhattisgarh.
(Sources: Business Standard, Press Trust of India, Moneycontrol, i4u, Deccan Herald)
Tough time over, now focus on growth: P Chidambaram
Finance minister P Chidambaram has said that the difficult phase for the economy is over and that the focus should now shift to higher growth. Chidambaram was speaking at the pre-budget consultations with economists. The finance minister also met heads of banks and finance companies.
"The finance minister said the difficult phase is over and now focus would be on achieving higher growth," the finance ministry said in a statement after the meeting.
Chidambaram said the direct taxes were satisfactory but indirect taxes were short of expectations.
In his opening remarks, the minister said the reforms announced by the government have had a positive impact on the market.
(Sources: Economic Times, Indiatimes, India Everyday, News BCC, IBNLive, Worldnews)
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