สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 10 กันยายน 2555
World Bank study declares Punjab as preferred place for investment
"In a latest study of World Bank about the Investment environment in the country, Punjab has been declared as the most preferred destination for investors," state's Industry and Commerce Minister Anil Joshi said.
He said the report of World Bank was based on various parameters including record investment by the incumbent government on the infrastructure such as roads, air and rail connectivity and incentives announced by the Punjab Government.
The minister said that Punjab Government has set an investment target of $ 18 billion in the state and to meet this, he has already held series of meeting with big industrialists at New Delhi.
(Sources: Business Standard, Financial Express, Economic Times, Hindu Business Line)
Govt working on single window customs clearance
After introducing round-the-clock customs clearance mechanism at major airports and seaports, the government is now working on a single window clearance scheme for reducing the time and cost involved in the export and import of goods.
As the country braces up for enhanced international trade, the customs department has started developing a single window that will integrate other agencies like drug controller or foods inspectors, thereby facilitating all transit related regulatory requirements.
As such, the government has already started, on a pilot basis, 24X7 customs clearance with effect from September 1 at identified air cargo complexes and seaports for facilitating bills of entry where no examination and assessment is required. The identified complexes include Bangalore, Chennai, Delhi, Mumbai and Kolkata.
(Sources: Indian Express, Financial Express, FIEO)
Agri share in GDP witnessing drop
Share of agriculture in the Gross Domestic Product (GDP) has dropped by nearly 5 % in the last eight years to 14 %, due to higher growth in other sectors.
Agriculture & Allied sectors which used to contribute 19 % of GDP in 2004-05 has come down to 14 % in 2011-12 at 2004-05 prices, according to government data.
The percentage has been declining gradually with the passing of years. As per United Nation's body Food and Agriculture Organisation (FAO), India accounted for 2.3 % share in world's total land area and 17.5 % of world's population.
(Sources: Indian Express, Financial Express, Zeenews, Moneycontrol, Worldnews, i4u)
Policy changes with retrospective effect bad for investors
It is up to the government to make any change in the past policy, but doing it with the retrospective effect would certainly be bad for investors, industry body Assocham has said.
Disapproving de-allocation of coal blocks, Assocham said that business investment decisions are taken based on the "policy of the day", which should not be tampered from retrospective effect.
"When coal blocks were allocated to both the private and public sector for captive use, there was no policy of auction. It was done by inviting bids. That was the policy of the day then, which must be respected by the subsequent governments to ensure stability of the system," it said.
The industry body said it was upto the present government to make any changes in the past policy, but doing it from the retrospective effect would certainly be bad for the investors.
(Sources: Economic Times, Financial Express, Zeenews, Indian Express, Worldnews)
Euro zone troubles impact India Inc, says Ficci survey
Companies doing business in Europe are feeling the pinch of the crisis in the Euro zone, shows a survey conducted by the Federation of Indian Chambers of Commerce and Industry (Ficci).
Europe is the largest trading partner of India, absorbing as much as 20 % of India’s outbound shipments. And, 73 % of Indian companies doing business in Europe said they’d already suffered a loss of 20 % or more in their businesses from the region since the beginning of the crisis.
The survey, of 30 companies, sought to check the impact on Indian industry of the economic survey there. The chamber said India’s outbound investments in the EU might see smaller deals but the activity would continue.
(Sources: Business Standard, Zeenews, Ficci, i4u, NDTV, Hindu Business Line)
Investment Clearance Board to be set up for Emerging Kerala
Kerala chief minister Oommen Chandy on Sunday said an Investment Clearance Board would be constituted to clear projects that are to be showcased at the Emerging Kerala Investment summit.
The projects, cleared at the state-level, would get approval in 90 days while those which requires clearances from the central government might be delayed, he said in Chennai.
Industries minister PK Kunjalikkutty said 23 sectors had been identified for foreign and private investment in the state. These include IT, electronics and infrastructure.
(Sources: Business Standard, NDTV, Times of India, Indian Express, Hindu Business Line)
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