สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 12 มีนาคม 2555
FDI increases by 31% to $27.5 bn in 2011
Foreign direct investment (FDI) in India went up by 31 % to USD 27.5 billion last year. FDI inflows in 2010 totalled USD 21 billion. The sectors that attracted maximum FDI last year include services (financial and non-financial), telecom, housing and real estate, and construction and power, according to the industry ministry's latest data.
Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major investors in India.
To boost FDI inflows, the government has liberalised the FDI regime, allowing overseas investment in bee-keeping and share-pledging for raising external debt. Besides, 100 % foreign investment has been allowed in single-brand retail sector.
Besides, the conditions for FDI in construction of old- age homes and educational institutions have been eased.
(Source: NDTV.com, Zeetv.com, Economic Times)
World Bank, IMF chiefs to visit India in March-end
Heads of the two most powerful banking institutions globally, the World Bank and the IMF are likely to be in India later in March amid an ongoing search process to finalise the name of the next World Bank president.
During their separate visits, the World Bank president Robert Zoellick and IMF chief Christine Lagarde are likely to meet top leaders and policymakers here and discuss the various economic policies and reforms being undertaken by India, given its growing influence in the global economic arena.
The IMF (International Monetary Fund) has said that Lagarde would be here on March 19-20, although there is no official word so far on Zoellick's India visit.
The US and Europe account for a major chunk of voting rights at these institutions, but the voice has been getting louder for a greater importance to the emerging markets.
(Source: Business Standard, the Asian Age, Zee News, Financial Express)
Engineering exports target of USD 72 bn may not be met
The engineering export target of USD 72 billion for the 2011-12 fiscal may not be achieved on account of sluggish demand in major markets like the US and Europe. During 2010-11, these exports grew by about 85 % to USD 60.1 billion.
The US and Europe account for over 60 % of the country's total engineering exports.
During April-January this fiscal, these exports grew by 21 % year-on-year to USD 49.7 billion.
Engineering exports include exports of goods, transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.
In its strategy paper, the Commerce Ministry has set a total exports target of USD 500 billion by 2013-14.
For engineering sector, which accounts for about one-fourth of the country's total merchandise shipments, a target of USD 125 billion has been fixed for the period.
(Source: Economic Times, Zee News, Indian Express)
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