Indian Economy-News & Updates

[eachus]

my friend just sent me this, nice view

"Taj Mahal, India" - (©)AIRPANO.COM - Project by Oleg Gaponyuk

 

[eachus]

IMF: India’s fiscal deficit will be worse than Greece’s this year

India’s fiscal deficit, at 8.9% of GDP, the update points out that despite the high deficit, India’s debt-to-GDP ratio, at an estimated 68% of GDP this year, is lower than Greece’s 162.6%, or Japan’s 234.5%. But one reason for this is India’s high inflation, which bloats its nominal GDP.

VERY BAD NEWS

India has fiscal government deficit at 8.9% of GDP and plus another 5% trade deficit is normalized. high inflation is always a good method for eliminate the debts for nothing. but high inflation and low growth will kill. Infrastructure investment is long term investment with very thin profit return. who ever invests in infrastructure in high inflation economic is not a wise option. think you borrow 100M invest in a bridge, it take you 5-8 years to complete. interest rate is 18%, then the cost of bridge is

5 years: 100M * (1.18 ^ 5) = 229 M
8 years: 100M * (1.18 ^ 8) = 376 M

and every year, you need to pay 18% interest for 376M not 100M. how much you need to collect the fees from drivers? that is why you see poor investment in India. the government is smart to erase the debts, investors are not stupid to lose on infrastructure neither. all reliable governments in strong nations do their best to keep inflation low. India must keep their Rupee inflation high.

 

[Zeeshan360]

does anyone out there know what is MAURITIUS? it dominates the India FDI almost 40% consistently. what do they invested in India? I dont really think that FDI is a meaningful index.

Indians invest all their black money to Mauritius
Open fake firms there and route the black money back to India converting it into White money

That's why FDI from Mauritius is even more than US ..

 

[eachus]

then you should say welcome back home. capital return is better than float out and never come back.

 

[Koovie]

Opposition to block FDI in multi-brand retail


Writes to Manmohan not to proceed with the move without a ‘wide-ranging consensus’

Ahead of Parliament’s monsoon session, a united Opposition seems all set to jeopardise Prime Minister Manmohan Singh’s controversial plan to push foreign direct investment (FDI) in multi-brand retail.

While the Left and the Samajwadi Party have written to Dr. Singh to build a “wide-ranging consensus” before proceeding on the issue, key constituents of the National Democratic Alliance (NDA), including the Bharatiya Janata Party (BJP) and the Janata Dal (United), are also in touch with the Left and other Opposition parties to formulate a joint strategy against the move.

“We urge the government not to open up the retail trade to FDI any further. Political parties across the spectrum are opposed to this move. In the absence of a wide-ranging consensus, we request you not to proceed with this decision,” says the letter to the Prime Minister signed by Samajwadi Party president Mulayam Singh Yadav, and general secretaries of CPI (M), CPI, AIFB, RSP and JD(S) — Prakash Karat, S. Sudhakar Reddy, Debabrata Biswas, Abani Roy, and Danish Ali.

The letter further says: “The Indian retail sector is the second largest employer in the country after agriculture. It employs over 4 crore persons. Most of these are small unorganised or self-employed retailers. Entry of MNC supermarket and hypermarket chains would cause severe displacement of these small and unorganised shopkeepers and traders…In a situation when employment growth has slowed down according to the National Sample Survey data of 2009-10, the entry of foreign supermarkets would further aggravate the employment situation.”

Stating that any move to allow FDI in multi-brand retail would be “strongly resisted,” Mr. Karat told The Hindu that last time when the proposal came the government had promised that the Opposition would be consulted and consensus reached before going ahead on the issue.

“Several State governments and most political parties were opposing it…they share the view that the government should not proceed before it takes Opposition parties into confidence,” he said.

Mr. Karat said they were in touch with the NDA parties which also oppose this move. “We have talked to JD (U) leader Sharad Yadav whose party is against it. We are also in touch with several other parties who are with us. How the Opposition would fight against it would become clear only before Parliament session…we will strongly resist this,” he asserted.

Notably, apart from the Samajwadi Party that supports the UPA government from outside, the ruling coalition’s key constituent — Mamata Banerjee’s All India Trinamool Congress — is also against FDI in multi-brand retail.


Keywords: FDI, multi-brand retail, UPA, controversial plan, NDA




RELATED NEWS

The Hindu : News / National : Opposition to block FDI in multi-brand retail

 

[eachus]

this thread is little slow in last a few days, lets post something different old data but interesting.
just got those history info on 2 countries, that shows how things were developed in the pass.


Steel production(ton):
Country ...1913....1930....1950....2010....
India ...... 63K ... 600K .. 1374K ... 68M
China ..... 43K .... 15K ... 16K ... 627M


Coal production(ton):
Country ...1913....1950....1993....2010....
India ...... 15M ... 32M ... 264M ... 521M
China ...... 9M .... 32M .. 1150M .. 3240M


Oil production(ton):
Country ...1910.....1950....1993.....2010....
India ...... 818K ... 253K .... 26M ... 39M
China ....... 0 K ... 118K ... 145M ... 203M


electricity power(KWH):
Country ...1913.....1940....1950.....2010....
India ...... N.A ... 2.5B ... 49B ... 922B
China ..... 460M ... 2.8B ... 43B ... 4207B

 

[Koovie]

this thread is little slow in last a few days, lets post something different old data but interesting.
just got those history info on 2 countries, that shows how things were developed in the pass.


Steel production(ton):
Country ...1913....1930....1950....2010....
India ...... 63K ... 600K .. 1374K ... 68M
China ..... 43K .... 15K ... 16K ... 627M


Coal production(ton):
Country ...1913....1950....1993....2010....
India ...... 15M ... 32M ... 264M ... 521M
China ...... 9M .... 32M .. 1150M .. 3240M


Oil production(ton):
Country ...1910.....1950....1993.....2010....
India ...... 818K ... 253K .... 26M ... 39M
China ....... 0 K ... 118K ... 145M ... 203M


electricity power(KWH):
Country ...1913.....1940....1950.....2010....
India ...... N.A ... 2.5B ... 49B ... 922B
China ..... 460M ... 2.8B ... 43B ... 4207B

You cant live without your daily dose of posts like this, cant you?

Anyway, kudos to China. Everyone, even those who hate China have to admit that Chinese productivity is unbeatable.

 

[eachus]

You cant live without your daily dose of posts like this, cant you?
Anyway, kudos to China. Everyone, even those who hate China have to admit that Chinese productivity is unbeatable.

I can not believe just post a set of real data causes you thinking "cant live anymore". what else make you feel better. go sleep and have a nice dream.

 

[IndoCarib]

India's Jindal Steel to buy Canadian coal company CIC | Reuters

(Reuters) - Canadian coal mine developer CIC Energy Corp (ELC.TO) has agreed to be sold to India-based Jindal Steel & Power Ltd (JNSP.NS) for C$116 million ($114 million) in cash, more than a year after ending an agreement with JSW Energy Ltd

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Infosys plans to hire 2000 in US - The Times of India

NEW DELHI: India's second-largest IT company Infosys has big hiring plans for the United States.

The company, which announced a new delivery center in Milwaukee, Wisconsin, said that it plans to take its hiring in the country to 2,000 by the end of 2012.

Infosys' new Wisconsin facility will provide end-to-end technology, consulting and systems integration services, and also will house a training center. The company is investing in the Midwest region of the United States to support its clients in the area, including Harley-Davidson.

 

[luckych]

Alstom to make Sri City a global sourcing hub

For the French multinational Alstom, setting up of a rolling stock manufacturing unit at Sri City in Andhra Pradesh could be the beginning of a new phase in its transport business in India.

Though the facility is being created initially to make coaches for the Chennai Metro, it could become a sourcing hub for its projects in India and other countries.

According to Mr Henri Poupart Lafarge, President, Alstom's transport business, the Sri City venture was in line with the company’s strategy to be closer to its clients as also an indicator of its expanding global footprint.

“Sri City factory is not only to cater to our operations in India but also to the rest of the world; we are pushing our global footprint towards the fastest growing markets that includes India, Latin America and the Middle East,” Mr Lafarge said.

Alstom will spend €30 million to develop the Sri City facility. The investment may not be large, considering similar manufacturing projects in the automotive sector. But the project will bring in new technology and engineering capabilities that could help make modern metro trains locally.

Initially, the extent of indigenisation will be 40 cent, but will eventually go up to 80 per cent, he said. Besides, the projects could attract investments in India by Alstom’s global vendors and also fuel development of domestic ancillary units.

The facility, being built in an area of 156 acres, is scheduled for commissioning in this September. The first set of rolling stock is expected to roll out in January, 2014.

The fists set of steel cars for the Chennai Metro is being built in Alstom’s factory in Brazil. The cars built in India too will be identical.

The €243-million order from the Chennai Metro Rail for supply of 168 cars seems to have encouraged Alstom to explore other metro projects in the country more vigorously.

Mr Lafarge believes that the company is well placed to take advantage of the growing opportunities in metro rail projects in India, despite tough competition from other global players.

Talking to a group of visiting Indian journalists in Paris, he said, the company will bid for the third phase of the Delhi Metro and other projects in the country. Earlier, Alstom had supplied the signalling system for the Delhi Metro. It also has a contract from the Bangalore Metro for signalling equipment.

The company has an order for the train control system for Jaipur metro. Other urban rail projects, including Kochi Metro, Hyderabad, expansions in Bangalore and Kolkata are expected to come up in the near future.

Alstom’s Bangalore facility provides application engineering for a number of its projects in Europe and Asia. The centre is now being converted into a group R&D centre.

Alstom, a major player in building high-speed trains, also sees opportunities in India, where it had associated with Indian Railways in the past. Its Coimbatore unit, set up in 1999, manufactures a range of traction and signalling equipment mainly for the Indian market.

Globally, transport business contributes only 25 per cent of the company’s revenue as the major share comes from the power business. This is the case in India too.

However, Mr Lafarge expects transport business to grow faster in the emerging markets with a number of cities planning metro rail services.

Despitethe Euro zone financial crisis, Alstom continues to have orders in the homemarket. Currently the company is engaged in a major project for automating line-1of the Paris Metro.

Business Line : Industry & Economy / Logistics : Alstom to make Sri City a global sourcing hub

 

[luckych]

Israel’s Teva ties up with P&G for India entry; to set up facility in Gujarat

Business Line : Companies News : Israel



Uploaded with ImageShack.us
P&G Teva's proposed investment in Gujarat is around Rs 500 crore, says the Gujarat FDA Commissioner




Israel’s Teva Pharmaceutical Industries will enter India through a joint venture with US-based Proctor & Gamble (P&G) and set up its first manufacturing facility at Sanand in Gujarat with an initial investment of Rs 250 crore.

“TPI and P&G joint venture P&G Teva would set up over-the-counter (OTC) drug manufacturing facility at Sanand with an initial investment of Rs 250 crore,” the Gujarat Commissioner Food and Drug Control Administration (FDCA), Mr H.G. Kohsia, said.

“The total proposed investment in Gujarat by the venture is around Rs 500 crore. It would initially hire 500 people, which could go up to 1,000,” he said.

Around 15 acres for the project has already been acquired, Mr Koshia said.

A formal announcement is likely to be made after signing of MoU with the State Government during the Vibrant Gujarat Global Summit-2013 scheduled for January next year, official sources said.

“The facility to come up on 15 acres is proposed to have two separate lines, one for manufacturing Ayurvedic drugs and another for allopathic medicines,” he said.

A joint delegation of P&G Teva recently visited Gujarat and evinced interest in setting up a manufacturing facility here.

“A four member delegation led by the Vice-President Corporate Quality of Teva, Ms Karin Baer, met us and sought details of setting up a facility to manufacture OTC products like cough syrups, inhalers...amongst others,” Mr Koshia said.

The Teva Assistant Vice-President, Mr Rajiv Palliwal, Senior Director, OTC Operations Teva, Mr Haresh Gill and a senior scientist from P&G, Ms Seema Sundereshan, were part of the delegation, he said.

The proposed facility at Sanand would have high-tech equipment and adhering to Good Manufacturing Practices (GMP) norms to make products both for Indian and overseas market, Mr Koshia said.

A lot of global companies have evinced interest in setting up their facilities in Gujarat, an established hub for pharmaceutical companies, especially SMEs.

NYSE-listed Teva Pharmaceutical is number one global generic company, having a portfolio of 1,480 molecules with operations in 60 countries and distribution network in around 100 countries.

 

[Abhishek_]

hot damn...gujarat seems to steam-rolling other states in FDI projects

 

[kawaraj]

Indian economy to grow at slowest pace in 10 years - Hindustan Times

 

[ChennaiSKing]

In a first India made bikes to hit Japan roads; Yamaha to export bikes from Surajpur plant - The Times of India

MUMBAI: Twenty-seven years after setting up a manufacturing base in India, Yamaha Motor Company will export sports bikes to Japan from India, in what is a first in the history of Indian two-wheeler industry.
ET learns India Yamaha Motor, the subsidiary of the Japanese two-wheeler company, will be exporting its first shipment of 300 deluxe motorcycles R15, a 150cc sports bike manufactured at its plant in Surajpur.

The idea is to test the product in Japan; if the response is good, the company may even begin exports of another motorcycle, FZ, to its home market. Confirming the development, Hiroyaki Suzuki, MD, India Yamaha Motor, told ET: "The motorcycles manufactured in India meet the advanced specification of developed markets and they are produced at a lower cost. We are sending R15 to Japan to test market them in the Japanese market and if the response is good, we may explore more products for export to Japan and other advanced markets."

"Japan is a market for big bikes and racing motorcycles and within that, the 150 cc segment is emerging. Our R15 fits the image; not only is it easy to race and manoeuvre, but it could also be an ideal choice for entry-level racing," added Suzuki.


About 4,00,000 units of two-wheelers are sold in Japan annually, with the market being dominated by 50 cc scooters and the balance making up for big bikes. R15 commands a price tag of 1.15 lakh on Indian roads, but in Japan, it will sell at ¥3.42 lakh, or 2.45 lakh. "If the response is good, our next target would be Europe," says Suzuki. The company has already started exploring markets of Turkey, Spain, and Portugal to export R15 and FZ in 2013.

Two-wheeler exports from India are nothing new. Bajaj Auto and TVS Motor ships products to Africa, Latin America and the Asean countries. However, Yamaha is one of the select few to reach out to developed markets from India, the others being Eicher Motors and Royal Enfield. In 2011-12, two-wheeler exports from the country grew 27.13% at 1.94 million units compared with 1.53 million units in 2010-11. Bajaj Auto was the largest exporter with 1.26 million units, followed by TVS Motor (2.6 lakh units). India Yamaha Motors was the fourth largest with shipment of 1,29,394 units, a growth of 45%.

This is a big milestone for Indian Auto Industry, especially the two wheeler - last year India have exported a whooping 1.94 million units...

 

[ChennaiSKing]

R15 to Japan from India

R15 to Japan