สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 5 มิถุนายน 2555
Hero MotoCorp to invest $ 463 million in expansion, R&D centre
Hero MotoCorp (HMC), the country’s largest two-wheeler manufacturer, on Monday announced an investment of $ 463 million to set up, among other things, two more manufacturing units to the existing three factories.
These two new ones are to be in Gujarat and Rajasthan. Also, an integrated research and development centre (R&D) is to be made operational by the middle of 2013-14.
Hero has a total annual capacity of nine million two-wheelers and this move would put it well ahead of rivals Bajaj Auto and its former ally, now rival, Honda, which is building two-wheeler capacity of four-million units yearly and making an aggressive entry into the 100cc mobile market.
(Source: Hindustan Times, Economic Times, Moneycontrol, Indian Express)
CSE finds major inefficiencies in iron and steel sector performance
The Centre for Science and Environment (CSE), a non-government organisation based here and promoting sustainable development, today exposed major inefficiencies in the performance of India’s iron and steel sector.
In a detailed rating, which took two years to compile, of the country’s 21 top steel makers, it found a general inefficiency in resource usage, widespread pollution and violation of environmental norms, among other deficiencies.
The companies each were rated on 150 parameters, such as technology, process efficiency, pollution, occupational health and safety, and compliance with regulatory norms.
The relative best performers included the Vizag steel plant of Rashtriya Ispat Nigam Ltd (RINL), Essar Steel’s Hazira plant and Ispat Industries’ Raigad plant.
(Source: Business Standard, the Hindu, Hindu Business Line)
Crisil cuts India's GDP growth forecast to 6.5%
Rating agency Crisil today lowered India's economic growth projection to 6.5% for the current fiscal from earlier forecast of 7% in view of global economic concerns and muted domestic investment demand.
The forecast has been scaled down in view of rising downside risks from recession in the euro zone, muted domestic investment demand, a domestic policy logjam, and limited fiscal and monetary space to stimulate the economy, Crisil said in a statement.
According to the government estimate, GDP growth was estimated at 7.6%.
Industry growth is projected to improve to 5% growth, services 8.1% and agriculture at the rate of 3% in 2011-12.
(Source: Business Standard, Economic Times, Livemint, Times of India)
India's Low-carbon technology market likely to be worth $135 billion by 2020
Billions of dollars worth of investment in clean technology and green energy are eyeing India, where the market for low-carbon technology is expected to expand to $135 billion by 2020, according to industry experts, making the country one of the most lucrative destination for companies in the domain.
Renewable energy has already lured large companies such as Reliance Power and Lanco, and the flow of venture capital has increased in the sector.
In addition, foreign companies involved in solar power and wind energy, as well as global funds that scout for opportunities around the globe are increasingly eyeing India for a slice of the lucrative market.
Analysts say that growth opportunities in the renewable energy space are rapidly shifting from the developed world to Southeast and South Asia, where investors are lured by generous incentives offered by governments.
(Source: Times of India, Business Standard, the Hindu, Hindu Business Line)
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