สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 20 กุมภาพันธ์ 2556
Thailand gold may hit anti-dumping wall, govt looking at measures to check rising imports
Rising gold imports, a lot of it from Thailand because of the low Customs duties payable on imports from that country, have been cited as the biggest contributor to India's worsening external sector numbers, notably the current account deficit that vaulted to 5.4% of GDP in the September quarter. This number, which is even higher than what it was at the height of the balance of payments crisis in 1991, has got policymakers and ratings agencies ring alarm bells and contributed to the pressure on the rupee.
Officials in the commerce and industry ministry said they were examining a range of so-called remedial measures to check the "dumping" of gold jewellery imports from Thailand, and that New Delhi would soon write to Thailand, giving it 90 days to respond under a bilateral trade pact between the two countries called the Early Harvest Scheme.
(Sources: Economic Times and Livemint)
India, ASEAN can work jointly to address regional problems
Stressing on a peaceful, prosperous and resurgent Asia that contributes to global peace and security, India today said it is willing to work with ASEAN for bringing innovative solutions to the problems being faced by the region.
International terrorism, transnational organised crime, money laundering, drug-trafficking, information and cyber security issues today demand greater collaboration of effort by the international community, External Affairs Minister Salman Khurshid said in his keynote address at the Inaugural Session of Delhi Dialogue - V.
(Sources: Economic Times, Indiatimes, News BCC, Daily India news, i4u, New Straits Times)
Bihar records 11.95% growth, highest among states
Despite global economic slowdown and sagging domestic demand, Bihar has managed to record 11.95% annual growth rate, the highest among all the states, during the 11th Plan period.
According to the Economic Survey 2012-13 tabled by deputy CM and finance minister Sushil Kumar Modi in the state legislature on Tuesday, Bihar almost remained untouched by the overall global slowdown but for some side effects in 2012-13.
Bihar's gross fiscal deficit (GFD) was only $ 734 million in 2010-11 but it sharply increased to $ 1.09 billion in the subsequent year. In 2012-13, it is projected to rise further to $ 1.39 billion due to higher capital investment.
(Sources: Economic Times, Indiatimes, Times of India, India Everyday, India News Headlines)
Finance Minister seeks more private investment in infrastructure sector
Finance Minister P Chidambaram on Tuesday called for innovative financing solutions to encourage greater private participation in investment in infrastructure sector pegged at $1 trillion in the 12th five year plan period. Finance minister was speaking at the launch of India Infra Debt Limited (Infradebt), India's first infrastructure debt fund under a non-banking finance company structure.
Infradebt is promoted by ICICI Bank, Bank of Baroda, Citibank and LIC. The share of private investment in the total investment in infrastructure in the Twelfth Plan is projected at 47% during the 12th Plan.
Infradebt has identified projects which have completed minimum one year of operation and the first deal is expected at the end of the current fiscal. The government has set up cabinet committee on investments with PM as its head to expedite approval and clearances.
(Sources: Economic Times, Indiatimes, Business Standard, the Hindu, NDV, Hindu Business Line)
Assam to host 'Agri-Horti Expo' in Guwahati
Assam’s achievements in the field of agriculture and horticulture would be on display as the state readies to host a first-of-its-kind Agri-Horti Expo in Guwahati, beginning February 20.
It would be a first such expo in entire North Eastern region and more than 300 participants would be taking part in this expo. An agricultural producers’ group from Thailand will also be participating in the expo, which would be a five-day long affair.
(Sources: Business Standard, Guwahati Online, Rediff News, Telegraph India, Assam Tribune)
H&M says preparing to enter India
European budget fashion retailer Hennes & Mauritz said it will apply to open stores in India, the third-biggest economy in Asia, as it seeks to expand into faster-growing markets.
The Indian government has been pushing through reforms to allow foreign retailers into the country to help stimulate the economy.
Like Swedish furniture maker IKEA, which is waiting for its own application to be approved, H&M hopes to cash in on a growing urban middle-class with a strong demand for western-lifestyle products.
H&M, the world's second-largest apparel retailer after Zara owner Inditex, has the bulk of its business in Europe where demand has been hit by the region's debt crisis.
(Sources: Economic Times, Indiatimes, Livemint, Reuters India, NDTV Profit, India Everyday, i4u)
Economic Section
Royal Thai Embassy