สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 7 พฤษภาคม 2555
India to deliberate tax measures as investors fret
The government's move to target tax evaders through a general anti-avoidance rule (GAAR), along with a plan to retroactively tax the indirect transfer of assets, has spooked investors and added to an exodus of funds, battering the rupee.
Starting on Monday, parliament will begin considering the finance bill that includes the tax proposals but final details may be a month or more away, government sources have said which could prolong the uncertainty and aggravate a balance of payments shortfall.
The GAAR proposal and a move that would tax already-completed mergers of foreign companies with Indian assets have slammed investor sentiments.
Already, investors had been put off by policy paralysis following a spate of corruption scandals as well as slowing growth, persistent inflation and a fiscal deficit that ballooned to 5.9% of GDP in the last fiscal year as the government has been politically unable to cut fuel subsidies.
(Source: Economic Times, Business Standard, Reuters India, Times of India)
Construction sector among biggest contributors to Delhi's GDP
The construction sector has contributed over $ 150 billion to Delhi's GDP of $ 1,565 billion in 2011-12, retaining its position as one of the major driving forces of the city's economy.
The share of service sector, also known as tertiary sector, in the GDP of Delhi was about 82 %, followed by the secondary sector at 17 % and primary sector at 0.87 %. The primary sector comprises agriculture and allied services, while secondary sector consists of construction and manufacturing sectors.
(Source: Economic Times, Worldnews, OutlookIndia)
KTM readies next-gen bikes with Bajaj
After the initial success of the mini street motorcycle produced at Pune but sold in Europe, KTM Power Sports AG, one of Europe's largest bike producers, has charted a series of new product developments with its India partner, Bajaj Auto.
The Austria-based two-wheeler major is developing a high-capacity motorcycle in partnership with Bajaj Auto, India's second-biggest two-wheeler producer, in addition to more platforms for newer models for the future.
Apart from launching products under the KTM brand, which are sold in India through Bajaj Auto dealerships, Bajaj will utilize the jointly developed technology in its own brands, such as the Pulsar and Discover.
(Source: Economic Times, Business Standard, Zigwheels)
Beta Wind Farm to invest $ 9,285 million in TN, Gujarat, Andhra
Beta Wind Farm Pvt Ltd is planning to invest $ 9,285 million to set up a wind energy farm each in Tamil Nadu, Andhra Pradesh and Gujarat, according to the subsidiary of Orient Green Power Company Ltd, owned by the Shriram Group.
Orient Green Power Company Ltd is promoted by Shriram EPC, a Shriram Group company, with investments from Bessemer Venture Partners of US and Olympus Capital Holdings, Singapore, for the creation and ownership of renewable energy assets. The company is one of the largest independent operators and developers; its portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.
(Source: ZeeNews, Business Standard, Infraline Energy)
Force Motors in talks with Gujarat govt to set up facility
Pune-based Force Motors Ltd is in talks with the Gujarat government to set up a facility to expand its commercial vehicle business.
The maker of Tempo, Trax and Traveller brands will firm up plans for the Gujarat factory in another two months, Managing Director, Prasan Firodia said, but declined to provide any investment details.
(Source: Livemint, Indiatimes)
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