สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 1 พฤศจิกายน 2555
Core sector growth at 7-month high of 5.1% in Sept
Indicating a turnaround in industrial growth, the eight core sectors grew by a seven-month high of 5.1 % in September — more than double the 2.3 % in August — backed by a low-base advantage and rapid expansion in coal, cement and refinery products, official data showed on Wednesday.
A low base effect and higher dispatches due to fuel supply pacts by Coal India with power companies are given as reasons by analysts for this growth. Coal output grew 11 % in August.
(Sources: Business Standard, Moneycontrol, Times of India, Hindu Business Line, NDTV)
India slips to 40th slot in World Economic Forum's financial development index
India has slipped four places in a raking of 62 leading financial systems and capital markets, because of weak institutional and business environment, the World Economic Forum said in a report released on Wednesday.
India is ranked at 40th place in the fifth edition of the World Economic Forum's Financial Development Report 2012, down four spots from last year.
Singapore, Australia and Canada were placed at 4th, 5th and 6th place respectively. India's overall score has been pulled down by low scores on financial sector liberalization, contract enforcement, infrastructure, and cost of doing business.
(Sources: Economic Times, Indiatimes, Business Standard, NDTV, i4u)
Engineering exports shrink 10 pc during April-September
Engineering exports declined by about 10 % to $ 27.81 billion in the first half of the current fiscal due to slowdown in major western economies.
The exports had totalled $ 30.89 billion in April- September period of the last fiscal. The decline was 8.2 % in September.
India exports engineering items such as transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.
To promote engineering exports, EEPC India in association with Ministry of Commerce and Industry organises India Show in different parts of the world. The last India show was organised at Brno, Czech Republic in September.
(Sources: Economic Times, Indiatimes, Hindu Business Line, SME Times, i4u)
Bharti Walmart opens 2nd store in Bhopal
Leading retail chain Bharti Walmart today opened its second wholesale store in Bhopal, making the Madhya Pradesh capital the only city in the country where the group has set up two stores, its top official said.
The cost of setting up one such store is $ 6.5 million and the company has already established three wholesale units in the state, including one at Indore.
The company has opened 20 stores in the country and is planning to open another four wholesale outlets in the current financial year, including in Jabalpur in Madhya Pradesh.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Moneycontrol, Press Trust of India)
JK Tyre plans capacity expansion at TN and Rajasthan plants
After completing a round of investments at its greenfield plant near Chennai, J K Tyre and Industries is planning further investments in Chennai as well as pump in $ 18.50 million at its Kankroli plant around 72 kilometers from Udaipur in Rajasthan.
Buoyed by good revenue figures of over $ 260 million during the second quarter, the company is hoping demand to pick up during the second half of the financial year.
(Sources: Economic Times, Indiatimes, Business Standard, the Hindu, i4u)
India's rice production to decline at 99 million tonnes: USDA
Rice production in India, the world's largest producer, is expected to decline by 5 % to 99 million tonnes, United States Department of Agriculture (USDA) has said.
The country had produced record 104.31 million tonnes (mt) rice in the 2011-12 crop year (July-June).
USDA has forecast global rice output at a record 465.1 mt in 2012-13, which is marginally above the output achieved in 2011-12 at 464.9 mt.
(Sources: Economic Times, Indiatimes, Zeenews, i4u, Press Trust of India)
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