สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 31 ตุลาคม 2555
FIIs raise stake in 75 top cos to a 6-yr high of 21.6%
Foreign institutional investors' purchases in top Indian companies are fast approaching a record high, thanks to attractive valuations and the reform push initiated by the government since mid-September.
FIIs increased their stake in 75 top companies by 1.4% to a six-year high of 21.6% as of September 2012, Morgan Stanley said in a report on Tuesday.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Moneycontrol)
FDI in retail: Unclear sourcing norms, stand of many states make global retailers wary of India entry
France's second largest retailer Groupe Auchan SA, which signed up a franchisee agreement with Landmark Group in August, is reportedly exploring possibilities of investing in the country but trade insiders say it is on a wait and watch mode to see how most of the 28 states and seven union territories respond to the latest policy on foreign investment in multi-brand retailing.
As per the policy state governments can decide if they want such a retailer in their states. Many lucrative states including Uttar Pradesh, Gujarat, Tamil Nadu and West Bengal have said no to FDI in multi-brand retail.
(Sources: Economic Times, Indiatimes, Worldnews, Zeenews, IBNLive)
DIPP nod to IKEA's investment proposal soon
The Department of Industrial Policy & Promotion will clear Swedish furniture retailer IKEA's proposal to invest up to $ 1.94 billion in single brand retail stores in India in the next few days in time for it to be taken up by the Foreign Investment Promotion Board for approval on November 20, a senior government official has said. Commerce and Industry Minister Anand Sharmahas assured his Swedish counterpart Annie Loof on Tuesday that IKEA's FDI application for investing 100% in single-brand retail will get the "green signal soon," another person privy to the meeting said.
(Sources: Economic Times, Indiatimes, Tribune India, Hindu Business Line)
India Inc unhappy with RBI decision not to reduce policy rate
India Inc on Tuesday expressed disappointment over RBI's decision to keep interest rates unchanged and hoped it would soon take policy action to boost investments and revive economic growth.
Industry body Assocham said the focus continues to be on rising inflation and not on the country's economic growth.
Sharing similar views, CII hoped that the RBI would intervene sooner than later to cut repo rates which would help in boosting industrial production and reviving the economy.
Ficci said it feels while a cut in rate is imperative to revive investment growth, there would be some leeway now for banks to lend more via the cash reserve ratio (CRR) cut.
(Sources: Economic Times, Indiatimes, Press Trust of India, Financial Express, NDTV)
Foodgrains output to fall by 3 per cent at 250 million tonne in 2012-13: Sharad Pawar
Country's foodgrains production is expected to fall by nearly 3 % at 250 million tonnes in 2012-13 crop year after making up with better prospects in rabi (winter-sown) season, Agriculture Minister Sharad Pawar said on Tuesday.
Foodgrains production stood at an all-time high of 257.44 million tonnes in 2011-12 crop year (July-June) on the back of record output of wheat and rice.
The production of foodgrains is estimated to decline due to drought in parts of Karnataka, Maharashtra, Gujarat and Rajasthan.
(Sources: Economic Times, Indiatimes, the Hindu, the Statesman, Press Trust of India)
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