สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 28 กุมภาพันธ์ 2555
Chinese foreign minister likely to visit India in March
Chinese foreign minister Yang Jiechi is expected in New Delhi in mid-March, for talks on the fourth meeting of the world’s fastest growing emerging economies — Brazil, Russia, India, China and South Africa, known together as BRICS.
India will host the fourth summit of the group in New Delhi on 29 March for the first time. The meeting will concentrate on food and energy security, sustainable development, international financial crises and terrorism. The global economic situation and its impact on developing countries will also be discussed.
(Source: Livemint, Indian Express, Newstrack India)
India will be the world's third largest economy by 2030
India would become the world's third largest economy by 2030 but its energy demand will slow down to 4.5 %, global energy giant BP plc said on Monday.
India's dependence on imports to meet its gas needs will jump to 47 % by 2030 while the same for oil will grow to 91 %. The nation will be 40 % dependent on imports to meet its coal needs.
In India, the share of industry continues to grow, as infrastructure development catches up and manufacturing expands to absorb a growing labour force, but it never reaches the Chinese level.
(Source: Economic Times, Financial Express)
Diversify trade basket to increase commerce: Iraq to India
Iraqi Deputy Prime Minister Rowsch N Shaways said that Indian companies can invest in Iraq either through joint ventures or independently. Commerce and Industry Minister Anand Sharma said the India-Iraq Joint Business Council needs to be activated to increase the interaction between businessmen of both the countries.
India has become the most favourite destination for Iraqis for seeking quality medical treatment. More than 28000 Iraqis visited India in 2010 for medical treatment, education and tourism.
Bilateral trade has increased from USD 5.7 billion in 2006-07 to USD 9.7 billion in 2010-11.
The main export items from India to Iraq include metals, electronic goods, basmati rice, meat and machinery. The imports include crude oil, fruits and nuts, sulphur, wool and chemicals.
(Source: Economic Times, Hindu Business Line)
Workers' strike threatens to bring services to a standstill in the country
Millions of workers from banking, insurance, mining and transport companies are on strike today in all over India.The strike, which includes workers from state-run phone companies, bus drivers and postal workers, is a new headache for Prime Minister Manmohan Singh's government as it grapples with weakening economic growth and faces elections in several states.
Workers linked to the ruling Congress party have also joined the protest and have promised further action if their demands are not met.
States such as West Bengal, Tripura and Kerala, where the communist parties have greater influence, had been expected to be most affected by the strike.
This strike is executed mainly to protest the "anti-labour" policies of the UPA government which includes controlling spiraling prices of essential commodities and creation of more employment opportunities all over the country.
Delhi government on Monday clamped the Essential Services Maintenance Act on all power companies in the city to ensure that there is no disruption in electricity supply in the national Capital.
(Source: Business Standard, Indian Express, Hindustan Times)
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