สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 12 กรกฎาคม 2555
India GDP growth seen at 6.5 pct this year: ADB
The Asian Development Bank (ADB) cut its growth forecasts for developing Asia on Thursday, saying financial and economic problems in Europe and the United States had cut demand for exports, although Southeast Asia remained a bright spot.
China's economy was expected to grow 8.2 % this year and India's 6.5 %, Kuroda said. That was down from 8.5 % and 7.0 % respectively in the ADB's April forecasts.
Thailand's economy was still expected to grow 5.5 % this year, Kuroda said, as it recovered from devastating floods in the final months of 2011 that cut annual growth to just 0.1 %.
However, the International Monetary Fund has cut its forecast for Thailand this year to 5 % from 5.5 %; Managing Director Christine Lagarde told a Thai newspaper on Thursday. For 2013 it is now forecasting 7 %, down from 7.5 %.
(Sources: Business Standard, CNBC, Worldnews, Hindu Business Line)
Industrial output growth picks up in May, up 2.4 pct
India's industrial output picked up more than expected in May, bolstering the case for the Reserve Bank of India (RBI) to keep interest rates high at its next policy meeting as a slow start to the monsoon puts pressure on inflation, especially food prices.
Industrial production rose 2.4 % in May from a year earlier, driven by manufacturing growth, data released on Thursday showed. The number, which was ahead of a Reuters poll forecast for 1.8 % increase, was the largest growth in output since February.
(Sources: Reuters India, Business Standard, CNBC, Worldnews, Financial Express)
Tamil Nadu attracts FDI faster, says study
Outperforming states like Gujarat and Andhra Pradesh, Tamil Nadu is turning out to be an attractive destination for foreign direct investment (FDI). The state has attracted investments to the tune of $ 1.2 billion in 2011-12, which is 66 % higher than Andhra Pradesh and 41 % higher than Gujarat.
According to a latest study by Frost & Sullivan and the Associated Chambers of Commerce and Industry of India (Assocham), the FDI equity inflows in Tamil Nadu increased from $ 65 million in 2009-10 to $ 1.2 billion in 2011-12.
(Sources: Business Standard, IBNLive, Moneycontrol, Hindu Business Line)
India to get first IKEA store in 'some years'
The first IKEA store in India is unlikely to come up during the second term of the United Progressive Alliance government, which ends in May 2014, as the Swedish furniture major takes “years” to set up shop in a new country after securing the necessary approvals.
The Centre is learnt to have begun simplifying the policy for foreign direct investment (FDI) in single-brand retail, after it received IKEA’s investment proposal on June 22. Though the furniture giant wants to set up stores in India, it is opposed to the mandatory norm of sourcing at least 30 % of the value of products sold from small enterprises in the country.
(Sources: Business Standard, Rediff, Smartinvestor, Zeenews, Hindu Business Line)
States warn of compensation hurdle to GST
State governments have warned that they may adopt tax measures that will threaten the implementation of the goods and services tax (GST), which aims to integrate the country into a common market, if the central government fails to compensate them for revenue losses incurred on account of a reduction of the central sales tax (CST) rate.
Analysts say states could take measures, including increasing the value-added tax (VAT) rate or reducing credits to increase the effective CST rate, which could adversely impact the roll-out of GST.
(Sources: Hindu Business Line, Livemint, Moneycontrol, Times of India)
Royal Thai Embassy