สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 20 กันยายน 2555
Indian companies more optimistic in Q3 - survey
Business sentiment among Asia's top companies fell for the second straight quarter, dragged down by export-orientated economies such as China and Japan, while domestic spending helped boost Southeast Asia's outlook, a Thomson Reuters/INSEAD survey showed.
The poll, conducted by Thomson Reuters in association with INSEAD, a global management and business school, was compiled between Sept 3-14 and covered sectors such as autos, financial, property, resources and technology. Investors have pushed up the Philippines and Thailand to among the world's best performing stock markets this year, with gains of 22 percent and 24 percent.
(Sources: Reuters India, Moneycontrol, NDTV, Business Standard, Hindustan Times)
Bharat Bandh: Life hit in many cities, trains stopped, PM's effigy burnt
The day-long nationwide bandh called by the Left parties and NDA today, demanding a roll back of the government's decision to hike diesel prices, cap subsidised cooking gas cylinders and against allowing FDI in multi-brand retail has hit life at many places in the country.
According to media reports, protesters burned effigy of the prime minister at some places in UP. In Bangalore, government and private schools were shut.
(Sources: IBNLive, Hindustan Times, Times of India, Indiatimes, Zeenews)
Fiat plans to rejig India operations, aims 10-fold rise in market share
Italian automaker Fiat is re-structuring its India operations as part of an exercise to revive its brand in Asia's third-largest economy, a top executive said.
The company, which has 0.39% share of India's car market, will launch its own sales outlets by March, completing separation from former joint venture partner Tata Motors, said Ravi Bhatia, vice-president (commercial) at Fiat India Automobiles. Fiat is aiming to achieve a 10-fold increase in market share, he said.
(Sources: Economic Times, Worldnews, Rediff, Hindu Business Line)
Expect dramatically faster environmental approvals: Montek
The proposed National Investment Approval Board (NIAB) will help speed up environmental, forest and other statutory clearances for “nationally important” large projects and likely pull the economy out of the trough, Planning Commission deputy chairman Montek Singh Ahluwalia said on Wednesday. The NIAB will have the mandate to take a holistic view of projects that come up before it, even while being sensitive to the “technical inputs” from the ministries concerned and allowing the bureaucracy to feel protected and express its views fearlessly, he said.
Speaking at the Indian Express Group's Idea Exchange programme, he made a strong pitch for measures that could take the gross fixed investment to 34% of GDP by the end of the current Plan, a process that will take GDP growth back to the 9% level.
(Sources: Indian Express, Financial Express, IBNLive, Zeenews, NDTV)
Reform Bills to fall prey to political storm, say experts
The political uncertainty following Trinamool Congress (TMC) chief and West Bengal Chief Minister Mamata Banerjee’s threat to pull out of the UPA government has put the prospects of various reform Bills in jeopardy, say experts.
At least eight important Bills such as pension reforms, land acquisition, forward contracts, banks, insurance, direct taxes and indirect taxes, and Companies’ Bill could be affected.
However, non-legislative reform measures are unlikely to be affected, say experts.
(Sources: Business Standard, the Hindu, IBNLive, Zeenews, NDTV)
FDI in retail likely to spur deal activity in agriculture, logistics
The government’s decision to allow foreign retailers to set up supermarkets in the country is likely to spur private equity (PE) investment in agriculture and warehouses, the backbone of the retail sector.
The need for efficiency and quality would drive investment in warehouses and supply chains, experts say.
In last five years, the country’s agriculture sector saw 35 PE/VC (venture capital) deals, worth a mere $356 million. So far this year, only three deals, worth $15 million, have been recorded in the sector, compared with six, worth $24 million, last year.
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line)
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