สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 18 เมษายน 2556
India to double renewable energy capacity by 2017: Manmohan Singh
India plans to double its renewable energy capacity to 55,000 MW by 2017 as part of efforts to increase efficiency of its energy use, Prime Minister Manmohan Singh said here today.
"It is proposed to double the renewable energy capacity in our country from 25000 MW in 2012 to 55000 MW by the year 2017," he said inaugurating the Fourth Clean Energy Ministerial conference here.
He said this would include exploiting non-conventional energy sources such as solar, wind power and energy from biomass.
Singh said India's 12th Five Year Plan recognised the importance of evolving a low carbon strategy for inclusive and sustainable growth.
(Sources: Economic Times, the Hindu, Zeenews, Hindustan Times, Energy Tribune)
India committed to incentivising use of clean energy: Montek Singh Ahluwalia
Planning Commission Deputy Chairman Montek Singh Ahluwalia said in his address at the Fourth Clean Energy Ministerial here in New Delhi said that the government is interested in incentivising the use of clean energy with a view to encourage domestic production and usage.
The big increase in clean energy will come from wind, solar and biomass, Ahluwalia said, adding the government will have to take "difficult decision" by incorporating them into the integrated energy policy.
The focus on clean energy, according to Ahluwalia, should not be to resolve short term problem but it should be to make the globe a better place to live say from 20 years from now.
(Sources: Economic Times, the Hindu, Business Standard, Worldnews, Smart Investors)
NEC eyes India's multi-billion dollar smart energy market
NEC Asia Pacific is aiming to tap the multi-billion dollar smart energy development sector in India over the next three years, a senior official said today.
"India will be a key market in NEC's Asia Pacific business plan from this year onwards," said Manish Kasliwal, head of the company's smart energy business centre in Singapore.
"India will account for 40 % of the $ 200 million Asian revenue projected over three years," Kasliwal told on the sidelines of the Power and Electricity Asia 2013 conference being held April 16-17 here.
NEC is also exploring the potential of local partnerships for putting in place system integration and is discussing various business potentials with telecom and tower operators.
(Sources: Economic Times, Indiatimes, Infraline, Daily India News, India Everyday)
Chidambaram says current account deficit could be halved in 1-2 years
Finance Minister P. Chidambaram said on Wednesday he expected India's current account deficit for the 2012/13 fiscal year that ended in March to be around 5 % of GDP and perhaps half that amount in one to two years.
Chidambaram is in the United States seeking foreign investment for India's ailing economy, the third-largest in Asia, before making his way to Washington for the annual spring meetings of the International Monetary Fund and World Bank.
The Harvard-educated Chidambaram said he is close to unveiling a new initiative to remove bottlenecks in economic development projects and help convince investors India's $1.8 trillion economy is back on a high-growth trajectory.
India is seeking foreign investment to fund its account deficit, which hit an all-time high of 6.7 % of GDP in the October-to-December period, driven by heavy imports of gold and oil and by muted exports.
(Sources: Livemint, NDTV, Reuters India, Daily India News, India Everyday, Worldnews)
Foreign investors should not be hurt by government whims: P Chidambaram
Affirming that foreign investors should not be affected by "whims" of governments, Finance Minister P Chidambaram has said that investment protection is guaranteed in India.
India has all the three requirements to guarantee investment protection--a stable and democratic political structure, a belief in the rule of law and transparent and independent legal system.
(Sources: Economic Times, Deccan Chronicle, Financial Express, Worldnews, Indian Express)
India should achieve its ambitious growth targets: Citigroup
India should be able to achieve an ambitious growth rate of over 7 % in 2014-15 and headwinds like elevated inflation and oil and gold prices are becoming 'tailwinds', Citigroup said today after hosting an investor road show of Finance Minister P Chidambaram in the US.
India is aiming for a material acceleration in growth, with targets of 6.1-6.7 % in the current fiscal 2013-14, over 7 % in FY 2015 and then more than 8 % in FY 2016, Citi said.
Citi Research said that the government has been in high gear, which was reflected in economic and market pickup.
(Sources: Economic Times, Indiatimes, Business Standard, Moneycontrol, Smart Investors)
Economic Section
Royal Thai Embassy