สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 15 พฤษภาคม 2555
Tamil Nadu signs MoUs with 5 auto majors including Yamaha Motor, Eicher Motors for $ 1.05 billion investments
As part of efforts to attract more investments in the state, Tamil Nadu government today signed pacts with five automobile majors entailing inflow of at least $ 1.05 billion that would create 9,530 jobs.
The MoUs with Daimler India Commercial Vehicles Pvt Ltd, India Yamaha Motor Ltd, Ashok Leyland-Nissan Motor Company Ltd, Eicher Motors Ltd and Philips Carbon Black Ltd were signed in the presence of Chief Minister J Jayalalithaa.
Through these new investments, 3,000 direct employments would be made in the plant. Daimler India manufactures trucks at the 400 acre plant at Oragadam.
(Source: Economic Times, Indiatimes, NDTV, Business Standard, World News)
Eicher Motors to invest $ 64.89 million in Chennai for Royal Enfield's new plant
Buoyed by the increase demand for its motorcycles, the maker of Royal Enfield, Eicher Motors Limited has signed a MoU with the government of Tamil Nadu to invest $ 64.89 million in the state for the period of 5 years.
The new plant will enable Royal Enfield to expand production capacity to 1, 50,000 units per annum in the first phase. The work is on schedule for the proposed Royal Enfield plant and the first phase is slated for completion by the first quarter of 2013.
(Source: Economic Times, Hindu Business Line, ZeeNews, Livemint)
India Yamaha Motor to invest $ 278 million in new two-wheeler plant in Chennai
India Yamaha Motor Pvt Ltd. plans to invest $ 278 million in a new two wheeler plant in Chennai over the next five years. The company on Monday signed a MoU with the government of Tamil Nadu approving the construction and operation of a new two-wheeler factory in the state.
The plant will kickstart operation in the beginning of 2014 and have an initial capacity of 4,00,000 units employing 1,800 people. The company can eventually scale up the production to 1.8 million units in phases by 2018. This expansion is part of the company's plans to achieve 2 million vehicle sales by 2016.
(Source: Economic Times, Hindu Business Line, Business Standard, Livemint)
Manufacturing zone near Chennai to attract $ 2.78 billion
The proposed manufacturing zone near Chennai, to be developed by business space provider Ascendas and a consortium comprising top Japanese corporate finance providers, is expected to attract investments to the tune of around $ 2.78 billion.
Located 50 kilometres south of Chennai, the project will encompass industrial, business, commercial and residential elements with lifestyle amenities and will create employment for around 200,000 people.
Automobile and ancillary, home appliances, electronics, foods, logistics and infrastructure are some of the key industries that are expected to come up in the township.
(Source: Business Standard, Smartinvestors, I4U News)
Indian IT infra market to reach $3 bn by 2016
The Indian information technology (IT) infrastructure market, comprising servers, storage and networking equipment, would reach $3 billion by 2016. According to research firm Gartner, the IT infrastructure market is expected to reach $2 billion in 2012, a 10.3 % increase over 2011.
Servers are the largest segment of the Indian IT infrastructure market, as revenue is expected to reach $754.5 million in 2012, and grow to $967.2 million in 2016.
(Source: Livemint, Hindu Business Line, Business Standard, Financial Express)
Rupee at new low, RBI steps in to keep it below 54/$
The rupee hit a new low today as it closed at 53.96 a dollar amidst a central bank intervention aimed at preventing it from touching the 54-a-dollar level.
On Friday, it had closed at 53.63 a dollar with the sixth consecutive weekly loss. The Indian currency has depreciated nearly 9 % since March.
Contrary to some conservative projections, industry body Assocham said on Monday it expects India’s trade deficit to increase sharply by over 40 % to $262 billion in the current financial year in the face of exports facing headwinds in the western markets. If the trade scenario unfolds, according to the Assocham projections, the rupee would come under further pressure.
(Source: Hindustan Times, Business Standard, Reuters India, Business Today)
Economic Section
Royal Thai Embassy
