สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 6 กรกฎาคม 2555
MNCs find India 3rd-best FDI destination: Report
Despite the Vodafone tax issue, a survey of transnational corporations finds India is regarded as the third-best destination for foreign direct investment (FDI), after China and America, till 2014.
The findings of the survey of around 170 companies, part of the World Investment Report of the UN Conference on Trade and Development (UNCTAD), was released on Thursday at a time when India is facing a dearth of dollar flows, leading to depreciation of the rupee.
India recorded FDI inflows (including re-invested earnings) of $46.8 bn in 2011-12, up 34 % from $34.8 bn in 2010-11.
Outward FDI from India increased from $13.2 bn in 2010 to $14.8 bn in 2011.
(Sources: Business Standard, Reuters India, Economic Times, the Hindu, Indiatimes)
India's economic troubles self-inflicted: Report
India's economic troubles are mostly self-inflicted, resulting from policy paralysis and opposition to reforms -- a situation that is unlikely to change before the general elections in 2014, says a report.
Foreign reserves remain quite high, at $ 292 billion, but have fallen by $ 30 billion since August 2011. Although wholesale price inflation has declined, it too was high, at 7.5 % year-on-year. The report said India's problems can't be blamed on the weak external environment.
(Sources: Hindustan Times, NDTV, Economic Times, Financial Express, Times of India)
Bangalore-based Anu Solar to open 2,000 solar product stores in India
Solar powered electronic products will now be available at retail stores across the country. These stores will sell varied products ranging from solar water heaters to solar powered calculators, caps with fans that run on solar power, solar power storing batteries and inverters.
Bangalore-based Anu Solar Pvt ltd, a leading manufacturer and seller of solar products, will open 2,000 stores across India on franchisee basis.
(Sources: Economic Times, Worldnews, Indiatimes, Times of India)
IKEA may have to wait as its demand for relaxing mandatory local sourcing norms puts government in a fix
The government appears to have balked at IKEA's demand for relaxing mandatory local sourcing norms, possibly delaying the approval of the world's largest home furnishing retailer's $1.9 billion investment proposal that has been touted as evidence of continued investor confidence in India's slowing economy.
The Department of Industrial Policy & Promotion, or DIPP, in its response to IKEA's investment proposal earlier this week, said the 10-year period sought by the company to fulfill its local sourcing obligations from India was 'too long' and sought additional information from the Swedish retail company on a range of issues.
(Sources: Economic Times, IBNLive, Worldnews, Newspolitan, Indiatimes)
Mahindra fastest growing brand in South Africa
Mahindra South Africa (MSA) has been named the fastest growing automotive brand in South Africa in terms of sales growth in the passenger car and light commercial vehicle (LCV) segments in the first five months of this year.
Mahindra grew 124 % on combined sales of cars and LCVs over this period, jumping from 699 to 1,563 units, compared to 94 % growth for second-placed Jaguar, according to automotive market intelligence company RGT Smart.
(Sources: Economic Times, Zeenews, Indian Express, Financial Express)
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