สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 11 ตุลาคม 2555
ER&D services exports from India to reach $45 bn by '20: Nasscom
India is expected to deliver over one-third of the global engineering, and research and development (ER&D) off shoring services by 2020, according to a study conducted by Nasscom, in association with research and consulting firm Booz & Company.
According to the report, ER&D services exports from India is expected to reach $37-45 billion by 2020, when the global ER&D off shoring opportunity is predicated to reach $118 billion. In 2011-12, Indian ER&D exports crossed $10 billion, it said.
(Sources: Business Standard, Rediff, Worldnews, Economic Times, i4u)
World Bank cuts India's FY13 growth forecast to 6%
The World Bank on Wednesday cut India's economic growth projection to 6 % for the current financial year from the earlier 6.9 % estimate, blaming the slowdown on corruption scandals and a host of policy issues, including uncertainty in tax policies. However, the Bank expects that the reform measures announced by India recently will push growth in the second half of the current financial year, albeit slowly.
International Monetary Fund had only yesterday lowered India's GDP growth projection to 4.9 % in 2012 from the 6.2 % pegged earlier.
(Sources: Economic Times, Times of India, Business Standard, Livemint, NDTV, i4u)
Odisha to avail IFC's technical expertise for PPP projects
The Odisha government is poised to ink a pact with International Finance Corporation (IFC), the private arm of World Bank, to avail IFC’s technical expertise for projects to be implemented on the public private partnership (PPP) mode.
The World Bank had identified environment, social sustainability, mining and natural resources as the future areas of focus in Odisha.
The state government has approved 37 projects on the public private partnership (PPP) mode between April 2009 and March 2012. The approved projects are in sectors like ports, real estate, food processing and tourism.
(Sources: Business Standard, Times of India, Indiatimes, Zeenews, IBNLive, i4u)
Auto sector growth staggers: SIAM
The Indian auto sector continued its downward trend in September, producing 6% less than what it did same month last fiscal, Society of Indian Automobile Manufacturers (SIAM) said on Wednesday.
The overall commercial vehicles segment registered growth of 3.71% in April-September 2012 as compared to the same period last year. While medium and heavy commercial vehicles registered a 12.49% fall, light commercial vehicles grew 16.04%. In September 2012 car exports grew by 10% compared to September 2011.
(Sources: Economic Times, Indiatimes, SIAM India, Indian Express, Zeenews)
India's textile-apparel industry to touch $223 bn by 2021: Ficci
India's total textile and apparel industry size both domestic and exports is projected to grow at a CAGR of 9.5 % to reach $223 billion by 2021 from the $89 billion in 2011, according to a white paper by industry body Ficci and research firm Technopak.
India's textile and apparel exports were at $31 billion in 2011 and are growing at an annual rate of 10 % since 2005. India's share of the world's textile and apparel exports stands at 4.5 %.
(Sources: Economic Times, Indiatimes, Press Trust of India, Moneycontrol, Exim News)
Germany's LEMKEN setting up production unit in India
LEMKEN India Agro Equipment, a wholly-owned subsidiary of LEMKEN Gmbh, is setting up a manufacturing unit in Nagpur district of Maharashtra. LEMKEN India will manufacture pre-harvesting equipment like primary tillage, seed bed preparation implements, reversible plough, seed drills and sprayers which are used along with the tractors.
"It is our first production location outside Germany. We will manufacture pre-harvesting equipment with a total investment of $ 22.64 million funded through 100 % equity from Germany," LEMKEN India Managing Director and CEO Arvind Kumar told.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Times of India)
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