สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 12 มีนาคม 2556
India will grow at 6% next year: World Bank
The World Bank today said India would go back on to a higher growth trajectory, by clocking a gross domestic product (GDP) growth of six per cent in 2013-14, and even higher thereafter, on the back of global recovery.
World Bank President Jim Yong Kim, who is on a three-day visit to India, said a projected five per cent GDP growth in the current financial year was disappointing, but future prospects for the country were good.
(Sources: Economic Times, Indiatimes, Business Standard, Times of India, Moneycontrol)
Indian economy slowing: OECD
Indian economy is slowing down while most of the developed world led by the US and Japan are seeing better growth prospects, Paris-based think-tank OECD said today.
The latest assessment for India comes at a time when the economy is grappling with high inflation and fiscal deficit. The projections are based on OECD's Composite Leading Indicators (CLIs) -- that are designed to indicate turning points in an economy.
Organisation for Economic Co-operation and Development (OECD), a grouping of mostly developed nations, said that in India growth is "slowing down". In January, India's CLI stood at 97.2 marginally lower than 97.3 recorded in December last year.
(Sources: Economic Times, Indiatimes, Business Standard, Reuters India, Deccan Herald, IBNLive)
Exports rise 4.2% in Feb; imports up 2.6%
Exports rose 4.2 per cent to $26.25 billion in February, compared with $25.2 billion in February 2012. This is a consecutive month’s rise in exports, according to data released by the Ministry of Commerce and Industry today.
This financial year, only three months recorded a rise in exports — April 2012 (3.23 per cent), January (0.82 per cent) and February (4.23 per cent).
In February, imports grew just 2.65 per cent to $41.18 billion, compared with $40.12 billion in February 2012. The trade deficit declined to $14.92 billion, compared with $20 billion in January. The relatively slow growth in imports increases the likelihood of India’s current account deficit narrowing.
(Sources: Business Standard, Smart Investors, Times of India, Indiatimes, NDTV)
February car sales crash by 26 pc, biggest fall in more than 12 years
India's car sales in February fell 26 per cent from a year earlier, the biggest fall in more than 12 years, as weakness in the economy and high cost of fuel and finance continued to dampen demand.
Car manufacturers sold 158,513 units in February compared with 213,362 in the same month a year ago, the Society of Indian Automobile Manufacturers (SIAM) said on Monday. It was the fourth consecutive monthly slide and the worst performance since December 2000, when sales had plunged 40 per cent.
(Sources: Economic Times, Indiatimes, News BCC, Top News Today, Financial Express)
India seeks Kuwaiti investment in infrastructure sector
India today impressed upon Kuwait which has Sovereign Wealth Fund of $ 300 billion to look at huge investment opportunity in the infrastructure sector.
The issue was raised by Commerce and Industry Minister Anand Sharma during his meeting with Kuwaiti Minister for Amiri Dewan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Jaber Al Sabah, an official said.
Sharma informed him that during the 12th Five-Year plan (2012-2017), India plans to spend around $ 1 trillion on infrastructure.
Kuwaiti investments in India stood at around $ 1 billion in sectors like power, automobile, construction development and telecommunication.
India has sought investments in sectors like petrochemicals, fertilizers, DMIC, education and Civil Aviation.
(Sources: Economic Times, Indiatimes, Zeenews, Daily India News, News BCC, Rediff News)
India Inc invests $1.65 bn in February in foreign countries
The Reserve Bank of India (RBI) said on Monday that Indian companies invested $1.65 billion abroad in February.
Companies committed the money by the way of equity, loans and issuing guarantees to their wholly-owned subsidiaries (WOS) and joint ventures (JVs) in foreign countries. In outward foreign direct investment, Indian companies had an equity contribution of $291 million, while they gave loans worth $258 million. Companies issued guarantees worth $1.1 billion.
In January, 2013, Indian companies had invested $3.30 billion in other countries.
(Sources: Economic Times, Indiatimes, Zeenews, Daily India News, News BCC, Rediff News)
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