สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 19 กันยายน 2555
Retail price inflation returns to double digits
Justifying the Reserve Bank of India’s cautious monetary stance, consumer price inflation again entered double digits after a gap of two months. It rose to 10.03 % in August from 9.86 % in July, as the rate of price rise in food articles escalated to 12.03 %, from 11.53 % the previous month.
Yesterday, RBI had left the repo rate, at which it lends to banks, unchanged at eight per cent but cut banks’ Cash Reserve Ratio, the proportion of their deposits they must keep with the central bank, by 25 basis points to 4.5 %. The latter step is expected to infuse $ 3.14 billion in the market.
(Sources: Business Standard, Times of India, Hindu Business Line, the Statesman)
Retail to attract $ 3 billion investments in 5 years: Crisil
The government's move to allow 51 % FDI in multi-brand retailing will attract investments of USD 2.5-3 billion in retail sector in next five years, Crisil Research said in a report today.
According to the report the organised retail penetration is expected to remain moderate at 10 % in 2016-17 with 7 % currently. It further said the policy reforms initiative by the government has lifted the business confidence.
(Sources: Economic Times, Indiatimes, Worldnews, Indian Express, Zeenews)
Gold imports might come down: PMEAC
The Prime Minister's Economic Advisory Council on Tuesday said it expected gold imports to come down this financial year, which could reduce the current account deficit (CAD) to 3.5 % of gross domestic product (GDP).
India's CAD had touched a record high of 4.2 % of GDP in 2011-12, on the back of a wider trade gap and lower capital inflows.
PMEAC Chairman C Rangarajan said that he expected gold and coal imports to decline this year. Adding, capital flows should be encouraged into the country in the short term.
(Sources: Business Standard, Financial Express, the Hindu, Rediff, Hindu Business Line)
FDI in retail sector to create 10 million jobs in 10 years: Report
Foreign direct investment in the retail sector is likely to create as many as 10 million jobs in a span of 10 years, making it the largest sector in organised employment, says a report.
According to Indian Staffing Federation (ISF), an apex body of the flexi staffing industry in India, FDI in retail can create around 4 million direct jobs and almost 5 to 6 million indirect jobs including contractual employment within a span of 10 years.
(Sources: Economic Times, Business Today Times of India, Hindu Business Line, NDTV, the Tribune)
FII inflows in India in 2012 run past emerging Asian economies excluding China
The Indian equity market has once again emerged as a destination of choice for the foreign institutional investors (FIIs). After a lull in the three months to June 2012, FIIs have returned back to Indian equities.
India has obtained the highest FII inflows in 2012 so far among frequently tracked Asian markets including Indonesia ($1 billion), Philippines ($2.18 billion), South Korea ($12.81 billion), Taiwan ($1.54 billion), Thailand ($2.15 billion), and Viet Nam ($18 million).
(Sources: Economic Times, Indiatimes, Worldnews, IBNLive, Zeenews)
Bajaj and Kawasaki to jointly market mobikes globally
Bajaj Auto and Japanese two-wheeler giant Kawasaki has entered into a global alliance to jointly market their products across developing countries, including in the ASEAN region and South America.
Two-wheeler companies sell around four million vehicles in Southeast Asian nations annually and both Bajaj and Kawasaki have a presence in Indonesia through their own distributors.
(Sources: Business Standard, Economic Times, Hindu Business Line, Moneycontrol)
India to become second largest steel producer soon, says Beni Prasad Verma
India is expected to become the world's second largest producer of crude steel in next two years on the back of new steel projects and expansion plans of domestic players, the government today said.
According to an official release, Steel Minister Beni Prasad Verma told a delegation of journalists from Korea and Philippines that with the ongoing Greenfield and Brownfield expansions, India is expected to become the 2nd largest producer in next couple of years.
(Sources: Economic Times, Indiatimes, Worldnews, Hindu Business Line, IBNLive)
Big-bang reforms boost India’s economic confidence: Ipsos
India's economic confidence has got a major boost due to recent big-bang economic reforms like the hike in diesel prices and cap on number of subsidized LPG cylinder; FDI in retail, aviation and broadcasting; disinvestment in 4 PSUs; and cut in CRR by RBI, according to a report by global research firm Ipsos.
According to the "Ipsos Economic Pulse of the World" survey, India's economic confidence shot up by 8 points to 68 % in the month of August compared to the previous month, making it the fourth most economically confident country in the world after Saudi Arabia, Sweden, and Germany.
(Sources: Economic Times, Indiatimes, Times of India, Worldnews, Moneycontrol)
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