สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 10 ตุลาคม 2555
FDI in retail could check counterfeit merchandise: Experts
Ushering in FDI in multi-brand retail could ensure supply of genuine goods by eliminating the intermediaries involved in production and sale of counterfeit goods, according to experts.
"FDI in multi-brand retail can lessen the supply chain, which will eventually negate the role of those who are involved in manufacturing and sale of counterfeited goods. This way, there can be a better control on the source of goods and services," said P C Jha, Advisor, FICCI-CASCADE (Committee on Anti-Smuggling and Counterfeiting Activities Destroying the Economy).
(Sources: Economic Times, Indiatimes, Times of India, Moneycontrol)
India Inc's business confidence shows signs of turnaround: Report
India Inc's business confidence for the October-December quarter is witnessing signs of "turnaround" on account of recent reforms push, which has lifted domestic sentiment and renewed foreign investors interest as well, says research firm Dun & Bradstreet.
The government has recently taken a number of reform initiatives such as opening the multi--brand retail and aviation sectors to FDI, hiking diesel prices and capping the number of subsidised LPG cylinders.
Besides, the government has also decided to raise the FDI cap in insurance from 26 to 49 % and allowing foreign investment in pension. The index reveals that businesses are now turning optimistic about prospects for sales and profits.
(Sources: Economic Times, Indiatimes, IBNLive, Moneycontrol, Financial Herald)
Govt working on export, import policies: Pawar
Agriculture minister Sharad Pawar said the switch-on and switch-off export-import policy for farm products is harming India’s image as a reliable global trading partner. The government is working on a long-term export and import policy, which will protect the interests of the farming community as well as meet domestic demands, he said.
(Sources: Business Standard, Economic Times, Hindu Business Line, Indian Express)
$ 82.74 million NABARD aid for TN infra projects
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned $ 82.74 million to Tamil Nadu under its Rural Infrastructure Development Fund.
The money will be utilized to execute infrastructure projects in various sectors like irrigation, flood protection, rural connectivity and infrastructure facilities for backward classes, most backward classes and minorities hostels, said Lalitha Venkatesan, chief general manager, NABARD, Chennai.
(Sources: Business Standard, IBNLive, Indian Express, Zeenews, i4u)
Walmart to source locally in India to keep front-end retail prices low by 10%-15%
US retail giant Walmart is planning a series of partnerships with small and mid-level suppliers in India across product categories to create a big list of private label brands that will be priced substantially lower - as much as 10-15% - than established products and brands.
The move is part of the company's strategy to go deeper into the Indian market and create cost-effective and efficient models of local procurement to keep front-end retail prices low, Raj Jain, MD & CEO of Bharti Walmart, has said.
(Sources: Economic Times, Indiatimes, Times of India, the Hindu)
24x7 power at affordable rates in 5 years: PM Man Mohan Singh
The government will provide 24x7 electricity to all households in the country at affordable rates and expand renewable energy generation to 55,000 megawatts in the next 5 years, Prime Minister Manmohan Singh said on Tuesday.
At present, around 12% of around 190 million rural households today use LPG to meet their cooking energy needs. Further, most of the people rely entirely, or very substantially, on traditional biomass for their cooking energy needs.
(Sources: Economic Times, Indiatimes, Hindustan Times, IBNLive, Indian Express, the Hindu)
India's 2012-13 oil output seen rising to 41.12 million tones
India's oil output in 2012/13 is expected to rise 8 % to 41.12 million tonnes from the previous year, Oil Minister S Jaipal Reddy said on Tuesday.
The minister also said the country's natural gas output in the current year to March 31, 2013 is likely to be 43 billion cubic metres, down 9 % from a year ago.
(Sources: Reuters India, Economic Times, Indiatimes, Zeenews, IBNLive)
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