สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 21 มีนาคม 2555
India to urge airlines to boycott EU carbon scheme
India will urge its airlines to boycott the European Union's carbon charge scheme, raising the prospect of a global trade war over a law requiring flights in and out of Europe to pay for their greenhousegas emissions.
China said in February its airlines were barred from participating in the EU Emissions Trading Scheme (ETS) unless they got government approval. Beijing has also suspended the purchase of $14 billion worth of jets from European maker Airbus.
If the European Commission then stopped Indian airlines from flying to Europe, India would retaliate with similar moves and consider charging an "unreasonable" amount for flying over India, the official said on Monday.
The Indian government is awaiting formal approval from several ministries to implement the order to airlines, which it expects soon, the official said.
Thai Airways THAI.BK President Piyasvasti Amranand said the state-controlled airline also opposed the EU law, but declined to comment on its impact on plane purchases.
"If nothing changes, this will cost us 200-300 million baht a year starting 2013," Piyasvasti said.
"I do agree with the idea of reducing carbon emissions, but the way EU has come up with the calculation for making airlines pay is something we feel is unfair."
(Source: Business Standard, Livemint, Reuters India, the Guardian)
FDI up 92% in January to $2 bn
India received USD two billion foreign direct investment (FDI) in January, showing an annual growth of 92 % and taking cumulative inflows to USD 26.19 billion for April-January period of the current fiscal.
In January 2011, the country received foreign direct investment (FDI) worth USD 1.04 billion.
Experts feel if reforms are pushed, there is much more potential for attracting increased foreign investment.
There is a need to boost investor confidence. USD 2 billion in month is not a big number," FICCI Secretary General Rajiv Kumar said.
The sectors which received large foreign FDI inflows during the 10-month period this fiscal are: services (USD 4.83 billion), pharmaceuticals (USD 3.20 billion), telecommunication (USD 1.99 billion), construction (USD 2.23 billion), power (USD 1.56 billion) and metallurgical industries (USD 1.65 billion).
Mauritius remains the top source of inflows (USD 8.91 billion), thanks to the double taxation avoidance treaty.
(Source: Business Standard, Financial Express, smartinvestor.in, Indian Express)
IMF pegs India's GDP growth for 2012-13 at 7%
International Monetary Fund (IMF) Managing Director Christine Lagarde on Tuesday said India was poised to grow at seven per cent in 2012-2013, while China would grow 8.5 %.
She lauded India’s efforts towards taking fiscal consolidation measures and reforming the tax code.
During her two-day visit that concluded on Tuesday, Lagarde met Prime Minister Manmohan Singh, Finance Minister Pranab Mukherjee and Commerce and Industry and Textiles Minister Anand Sharma.
Addressing a round-table on India and China earlier in the day, Lagarde reiterated the IMF was eager to implement the required quota reforms ratified by India and China, which will give more voice to countries not properly represented in the fund.
The quota for a country at the IMF refers to its voting rights. India has a voting share of 2.34 %.
(Source: The Hindu, Economic Times, Reuters India, Business Standard)
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