สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 14 สิงหาคม 2555
Kerala plans investment and mfg zone
Kerala will establish a National Investment & Manufacturing Zone (NIMZ) in the Kochi-Palakkad Industrial Corridor region.
Addressing a business meet here on Monday as part of the Emerging Kerala campaign, Kerala industries and IT minister PK Kunhalikutty said to attract investments, the state government was planning some mega infrastructure projects to illustrate various investment opportunities available there.
The manufacturing zone is being established at an estimated total cost of $ 9.39 billion to promote manufacturing industries, he said.
(Sources: Business Standard, the Hindu, Hindu Business Line, Economic Times, Indiatimes)
Bengal bags $ 1.98 billion investment till June 2012: Assocham
A new Assocham report states that the state has seen investments worth over $ 1.98 billion during the first six months of 2012.
As per the report prepared for the state government, in the year to June 2012, the state has attracted new investments worth $ 1.98 billion and the state has got 900 live investments worth $ 113.47 billion now. Among these, the manufacturing sector has got the major share of 35.2 %, followed by electricity (32.8 %), services (16.3 %, mining 9.2 % and real estate (5.9 %).
The report, “Realising the growth potential of West Bengal,” will be submitted to the government by the end of this month.
(Sources: Business Standard, IBNLive, Times of India, Indiatimes, i4u)
Six global retailers apply for 51% stake of India ops
India has received six proposals from global single-brand retailers seeking permission to own 51 % of their operations in the country, the commerce ministry said on Monday.
Retailers who have applied to the government include Tommy Hilfiger, clothing retailer Brooks Brother Group, Italian jewellery brand Damiani International, French brand Promod SAS, Fapa Company Ltd and NA Pali Europe SARL, a unit of sportwear retailer Quiksilver Inc.
Many of these retailers are already present in India via licensing and joint venture partnerships with Indian retailers.
The government has not taken a decision on these proposals, the ministry said in a statement.
(Sources: Reuters India, Business Standard, Economic Times, Indiatimes, NDTV, Tribune India)
Sahara India to pump $ 542 million in its retail venture
Sahara India today announced $ 542 million investment for its retail venture, while setting an ambitious revenue target of around $ 9.03 billion after two years.
The group claimed that it will open around 1,000 retail outlets under the 'Sahara Q Shop' brand initially in five states covering 60 cities and towns by 2013. The initiative will kick off from August 15.
The company plans to launch retail outlets in 998 towns and cities by March 2013. Sahara India Pariwar Chairman Subrata Roy told reporters that the new venture would provide jobs to around 143, 000 people gradually within 18 months.
(Sources: Business Standard, Economic Times, Indiatimes, Business Today, NDTV)
FDI in multi-brand to boost organised retail in India: CII
Calling for an early implementation of the decision to allow FDI in multi-brand retail, CII today said the move would give a major boost to the organised retail and SMEs in the country.
The Union Cabinet had decided on November 24, 2011, to allow 51 % FDI in multi-brand retail, but the same could not be implemented in the face of strong opposition from UPA-ally Trinamool Congress and several state governments.
The chamber said foreign direct investment in the sector is the next logical step after increasing FDI cap to 100 % FDI in single-brand retail.
(Sources: Economic Times, Financial Express, Hindu Business Line, Zeenews, Indiatimes)
India's declining investments cause for concern: RBI
The Reserve Bank of India Governor Duvvuri Subbarao said on Monday domestic factors were responsible for the slowdown in the country's growth momentum, and added declining investments were a cause for concern.
Subbarao also said the RBI does not have adequate room through monetary policy to respond to a crisis arising from global factors.
India's growth hit a nine-year low of 5.3 % in the first quarter of 2012 due to political hold-ups on key reforms, high interest rates, and global economic uncertainty.
The RBI had cut its growth forecast for the ongoing financial year to 6.5 % from 7.3 % in its last monetary policy review on July 31.
(Sources: Reuters India, Livemint, Economic Times, Hindu Business Line)
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