NEW DELHI, August 2 - BUSINESS STANDARD – The car sales in India went down to negative zone for the first time in 27 months. Sales figure for the month of July declined from 194,122 units to 173,615 from last year or in percentage its 10.56. – BUSINESS STANDARD – Swift has become the 4th largest selling in the industry after the Alto, Hyundai i10 and Wagon R. It sold over 140,000 units giving it a 32 per cent market share last year. – BUSINESS STANDARD – The Prime Minister’s Economic Advisory Council (PMEAC) lowered its economic growth projection for this financial year to 8.2 %. The industry sector and the services sector are estimated to grow 7.1% and 10% this year respectively. – BUSINESS STANDARD – Geographical Indication (GI) is the official stamp of protection for products originating from a particular region, with a special quality and reputation that go back several decades or centuries. The European Union (EU) has sought GI protection for 190 products in India. – BUSINESS STANDARD – In automobile sector where car sales have shown a downward inclination, sales of two wheelers have shown opposite effect with overall sales figures in July rising with 13.2% growth. - ECONOMIC TIMES - According to Union ministry of labour and employment, the sectors which are mostly responsible for lowering unemployment rate in India since post-recession are Information Technology and BPO sectors. The sectors have generated more than 15 lakh direct and indirect jobs since October 2008. - ECONOMIC TIMES - To reduce transaction cost and time during customs clearance, the Indian Government has made it mandatory for importers to use the e-payment mode for duty payments of above Rs.1 lakh. - FINANCIAL EXPRESS - India’s merchandise exports rose 46.45% to $29.21 billion in June. – TELECOMTIGER - The Finance Ministry will take up 40 proposals of foreign direct investment, including that of Vodafone-Essar and Walt Disney Company India.
Submitted By:-
Priyesh Narain
Researcher