สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 4 เมษายน 2557
Foreign workers come under EPFO radar
Indian Government steps up efforts to ensure that India Provident Fund obligations are met by foreign works by instructing the Employees' Provident Fund Organisation (EPFO) to coordinate with the Foreigner Regional Registration Offices (FRRO) to obtain a complete list of all foreign nationals who are on business or employment on visas valid for more than 180 days. Under the PF Act, factories and establishments having 20 or more employees are required to be registered for PF purposes.
The only exception to the above norm would be if the deputed employee has obtained a certificate of coverage under a social security agreement entered into by India. In such cases, the foreign national would continue to contribute his social security in his home country and would not have to contribute PF in India. However, India's social security agreements with only a few countries are in force - largely European countries and Korea.
India is current in negotiation with Thailand on entering into a social security agreement which will exempt Thai workers in India from paying to the PF.
(Source: Times of India)
India only country globally where domestic air travel dipped in February: IATA
According to IATA, India aviation industry is still in deep trouble due to a weak Indian economy making it the only country globally which saw domestic passenger numbers fall this February.
While IATA reported that domestic markets globally rose 5.3% in February compared to a year ago, Indian statistics fell 1.8%. This was cited as being caused by subdued consumer sentiment ahead of the upcoming election, as well as elevated fare levels compared to a year ago.
Middle East carriers had the strongest year-over-year traffic growth for international travel in February at 13.4% as airlines continue to benefit from the strength of regional economies and solid growth in business-related premium travel.
(Source: Times of India)
Kochi airport crosses 5 million passenger mark
Cochin International Airport Ltd (CIAL) registered record growth in passenger volumes, crossing the 5 million mark. The airport handled 5.39 million passengers in 2013-14, an increase of 10 per cent from the 2012-13 level, CIAL said in a press release. International passengers increased 11.5 per cent to about 3.27 million, while there was a 7.8 per cent growth in domestic passengers, according to the release.
The airport, which started operations in 1999, was the first in the country to be built with public participation. CIAL is building an international terminal at Rs 850 crore to gear up for expansion, airport director ACK Nair said.
At present, 19 international carriers and six domestic carriers operate from Cochin airport. They together operate 963 weekly schedules, which include 35 each to destinations such as Sharjah and Dubai and 21 services to Abu Dhabi, the release added.
CIAL's cargo division recorded growth of 17 per cent to 54,440 tonnes from 46,530 tonnes in 2012-13. Perishable cargo volumes increased more than 22 per cent. CIAL had built a high-end, air-conditioned warehouse a few years ago to handle perishable cargo.
(Source: Economic Times)
Audi posts over 8 per cent sales growth at 10,126 units in FY14
German luxury carmaker Audi's sales grew by 8.29 per cent to 10,126 units in FY 2013-14, as compared to 9,350 units in the previous fiscal. Audi India grossed sales of 1,404 units in March 2014, its highest in a month in India, recording 18 per cent growth year-on-year.
Audi is planning to launch the next big Audi - Audi A3 Sedan later this year. The company had sold 1,104 units in March 2013. It was the only manufacturer in its segment to pass on the full benefit of the excise duty reduction to the customer.
The company intends to reach customers across India and plan to expand the dealership network to 40 by the end of this year, King said.
(Source: Economic Times)
Thaiindia.net Team
4 April 2014
