สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 27 กรกฎาคม 2555
PM likely to meet India Inc next week
A senior official from the Prime Minister’s Office told Business Standard, “There is a proposal of such a meeting with industry captains for galvanising trade and industry.”
This would be the first meeting between the prime minister and industry leaders after he took additional charge of the finance ministry on June 26.
On December 22, 2011, Singh had met top industrialists at a meeting of the Prime Minister’s Council on Trade and Industry. At the meeting, the prime minister had told business leaders not to let the atmosphere of gloom affect them. He had assured them his government remained committed to the reforms agenda, to help industry achieve its potential.
(Sources: Business Standard, Economic Times, Indiatimes, IBNLive, Moneycontrol)
TVS Automobile aims at pan-India presence by year-end
TVS Automobile Solutions, promoter of My TVS brand, has forayed into the eastern and western markets with an aim to have a pan-India presence by year-end, a top company official said today.
"Our plan is to have 100 of our own workshops and 300 franchise workshops. That is the kind of expansion and for that we took finance from private equity capital of about $ 1.40 million," TVS Automobile Solutions President, R Srivatchan told PTI here.
(Sources: Times of India, Economic Times, Livemint, Moneycontrol)
Gems & jewellery exports grow 7.5 per cent in June
Gems and jewellery exports registered a growth of 7.5 per cent in June year-on-year to $ 4.2 billion on rising demand from new markets. Gems and jewellery export declined by 12 per cent in May.
The exports stood at $ 3.9 billion in the same period last fiscal, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC). The council is hopeful that the country's gems and jewellery exports would touch $ 40 billion in the current fiscal.
(Sources: Business Standard, Zeenews, Worldnews, Smartinvestor)
Scanty rains to escalate inflationary pressures: CRISIL
Stating the deficient rainfall situation is similar to that of the 2009 drought, ratings agency CRISIL today said the shortfall will have an adverse impact on headline inflation and push it beyond estimates.
The agency's research wing said wholesale price index-based inflation, one of the key factors used by the Reserve Bank in its policy making, will go beyond its estimate of 7 percent due to the scarcity in rains and the resultant price escalation on food items.
(Sources: Economic Times, Moneycontrol, Indiatimes, IBNLive)
DIPP to rework the current rules on brand ownership for retail FDI
Taken aback by the decision of the foreign investment promotion board to reject a proposal by Zara Holding, a Netherlands-based company, to retail the luxury brand Massimo Dutti, the Department of Industrial Policy and Promotion (DIPP) has decided to rework the current rules that stipulate that the investor should also own the brand.
Skechers, Pavers England, Promod and Tommy Hilfiger have expressed their willingness to invest but have complained of norms that lack clarity.
Last month, IKEA, the Swedish home-ware firm, had promised to invest $ 1.89 billion over the next five years but demanded relaxations of a provision that stipulates that 30% of the value of products sold should be sourced from domestic small and medium industries.
(Sources: Economic Times, Hindu Business Line, Worldnews, IBNLive)
Royal Thai Embassy