Indian Economy-News & Updates

[Insane]

Companies with Market Cap over $5 Billion ( $Billion)

1 Reliance Industries 35.95
2 NTPC 29.7
3 Oil & Natural Gas 28.91
4 Bharti Airtel 23.63
5 Infosys Technologies 13.79
6 ITC 13.48
7 Bharat Heavy Electricals 13.37
8 State Bank of India 12.75
9 NMDC 11.75
10 Indian Oil 10.2
11 Tata Consultancy Svcs 9.2
12 Power Grid of India 7.94
13 HDFC Bank 7.36
14 Icici Bank 7.14
15 HDFC-Housing Devel 7.05
16 Larsen & Toubro 6.99
17 Reliance Communications 6.27
18 Steel Authority of India 6.14
19 Wipro 5.93
20 DLF 5.05
21 GAIL (India) 5.04

 

[Bullhead]

India Now Has Record 500 Million Telephone Subscribers

NEW DELHI, Oct 30 (Bernama) -- India's telephone subscribers have crossed a staggering 500 million mark this year, ahead of the 2010 deadline set by the government to achieve the target.

India's Communications and Information Technology Minister A. Raja said well-poised polices introduced to restructure the sector had helped to achieve the growth target at an earlier date.

"We set our target to achieve 500 million subscribers by 2010, but we crossed the milestone in September 2009. It was stupendous achievement," Raja said at the curtain-raiser ceremony of the India Telecom 2009 conference.

"But the government is more ambitious to achieve a billion subscribers in the next few years, a possible figure based on the 12 million Indians subscribing every month," he said.

The government has not set a specific timeline for the new target.

The telecommunication sector is India's success story, which is now one of the main drivers of the Indian economy, unscathed even by the recent economic slowdown.

India, ruled by the Congress-led United Progressive Alliance (UPA), is bent on increasing the rural teledensity to 200 million connections by 2010, up from the current 145 million rural subscribers.

"We want to connect every part of rural India, so the poorest of the poor can benefit. This will help to bridge the digital divide," said Raja.

Increasing segments of the rural population in India, over 60 per cent of the one billion people, are beginning to rely more on telecommunication, mainly for healthcare, e-education and farming, making it the most wanted infrastructure in the economy.

The India Telecom 2009 conference themed "Telecom for Inclusive Growth" is scheduled from Dec 3 to 5.


BERNAMA - India Now Has Record 500 Million Telephone Subscribers

 

[New Shivaji]

GMR Group of Bangalore on Saturday become the first Indian company to operate an airport abroad with the formal opening of the new terminal building of the Istanbul Sabia Gokcen International airport here.

"With the opening of this airport terminal building a new era of relationship and economic partnership has begun.

This has opened many more avenues for the Indian and Turkish companies to join hands," Civil Aviation Minister Praful Patel

said during the inauguration ceremony.

The terminal, built in a record time of the 18 months, was inaugurated by the Prime Minister of Turkey Recep Tayyip Erdogan. Patel and Malaysian Transport Minister, Y B Datuk Seri Ong Tee Keat were also present at the ceremony. Sabiha Gokcen International airport, which is being operated by the GMR Group, along with its partners Malaysian

Airports Holding Berhard (MAHB) and Limak Insaat San Ve Tic A S (Limak) of Turkey, is the third airport being constructed by the GMR group after Hyderabad and Delhi airports.

The completion of the project makes GMR the first Indian private sector company to have successfully completed an airport project abroad. "The new terminal building, built at the cost of Rs 4000 crore, has been designed to handle 20 million passenger as the old terminal building has become nearly full to its capacity," G M Rao said.

The new airport project, being undertaken at a cost of more than Rs 3,100 crore, will have an ultimate passenger handling capacity of 25 million annually.

The airport currently handles 5 million passengers annually. The new terminal will become fully operational on November 9 when Turkish Airlines begins its operations to seven new European destinations including London, Moscow, Amsterdam and Berlin. Malaysian Airlines also plans to start operating three times a week to the new airport, Chairman of Malaysian Airports, Aris bin Othman said.

The new terminal will have a four storey car park with a capacity to park 4,700 cars and 72 buses apart from 112 check-in counters and a 124 room airport hotel adjacent to the terminal.

The new terminal will be a gastronomical delight for passengers. The area earmarked for food court is being increased more than three fold to 5,000 square meter food court from about 1,300 square meters at present.

GMR along with the Turkish company Limak and Malaysia Airports Holding Berhard Airports won the contract to build the new airport building. The contact is on a Build Operate Transfer (BOT) model with the consortium having rights for 20 years.

Sabiha Gokcen International airport, named after the world's first woman fighter pilot, is located in the Asian side of Istanbul. The city has two airports one each on the European and Asian sides. The Turkish government is also working on the undersea link via Metro to enhance connectivity with the Asian side

 

[deathfromabove]

Foreign Aid and India: Financing the Leviathan State

With a debate now raging over whether further foreign aid programs financed by U.S. taxpayers are justified in the post-Cold War era, a review of the development experience of the recipient of the largest amount of foreign aid is instructive. India has received more foreign aid than any other developing nation since the end of World War II–estimated at almost $55 billion since the beginning of its First Five-Year Plan in 1951.(1) It has long been an article of faith among development economists and policymakers that foreign aid is a necessary and central component of economic development, yet the record of Indian economic development since 1947 belies that view.

India has had one of the lowest rates of growth of all developing countries and remains one of the poorest countries in the world after almost 45 years of aid-financed, centrally planned development. Foreign aid has directly financed and sustained India’s centralized planning and control framework and thereby financed the growth of one of the noncommunist world’s largest and most inefficient public sectors. In 1988-89, 101 of the country’s 222 largest public-sector companies recorded losses and contributed to a federal deficit five times as large, in relative terms, as the U.S. budget deficit.(2)

Today, after nearly 45 years of planned economic development, India’s annual per capita income remains around $300. Almost 40 percent of Indians live below the official poverty line, and the absolute number of Indians in that category increased sharply between the late 1950s and the mid-1980s. In short, India is a paradigmatic case of the failure of government-sponsored aid; it stands as a dramatic testimonial to why such aid should go the way of the socialist development model it has bankrolled for decades.

Foreign Aid and India: Financing the Leviathan State

DAWN.COM | Business | WB okays $4.3bn loans to India

 

[Chanakyaa]

India has had one of the lowest rates of growth of all developing countries and remains one of the poorest countries in the world after almost 45 years of aid-financed, centrally planned development.

Absolute Crap.

 

[jaunty]

Foreign Aid and India: Financing the Leviathan State

With a debate now raging over whether further foreign aid programs financed by U.S. taxpayers are justified in the post-Cold War era, a review of the development experience of the recipient of the largest amount of foreign aid is instructive. India has received more foreign aid than any other developing nation since the end of World War II–estimated at almost $55 billion since the beginning of its First Five-Year Plan in 1951.(1) It has long been an article of faith among development economists and policymakers that foreign aid is a necessary and central component of economic development, yet the record of Indian economic development since 1947 belies that view.

India has had one of the lowest rates of growth of all developing countries and remains one of the poorest countries in the world after almost 45 years of aid-financed, centrally planned development. Foreign aid has directly financed and sustained India’s centralized planning and control framework and thereby financed the growth of one of the noncommunist world’s largest and most inefficient public sectors. In 1988-89, 101 of the country’s 222 largest public-sector companies recorded losses and contributed to a federal deficit five times as large, in relative terms, as the U.S. budget deficit.(2)

Today, after nearly 45 years of planned economic development, India’s annual per capita income remains around $300. Almost 40 percent of Indians live below the official poverty line, and the absolute number of Indians in that category increased sharply between the late 1950s and the mid-1980s. In short, India is a paradigmatic case of the failure of government-sponsored aid; it stands as a dramatic testimonial to why such aid should go the way of the socialist development model it has bankrolled for decades.

Foreign Aid and India: Financing the Leviathan State

DAWN.COM | Business | WB okays $4.3bn loans to India

First stop being a smart@$$, you are proving yourself to be a dumb@$$.
Here is how-- let me show you

The article you posted dates back to May 6, 1992, might be the worst phase in Indian economy post-independence.

Now to cover up you have also given a recent Dawn link thinking people will be fooled. But you are wrong mate I am posting the dawn article below---

WB okays $4.3bn loans to India

Thursday, 24 Sep, 2009


WASHINGTON: The World Bank announced $4.3 billion in loans to India, including two billion for the banking sector, to help strengthen its economy amid the global economic crisis.

The World Bank said on Tuesday its executive board approved loans for projects in five countries, with the loans for India by far the largest.

The four projects worth $4.3 billion to India are ‘designed to support the government’s infrastructure agenda and bolster its economic stimulus program,’ the Washington-based development lender said.

The bank noted that after a period of high economic growth — which reached 9.7 per cent in 2006-07 — the onset of the global financial crisis in 2008 saw a decline in India’s growth rate to about 5-6 per cent in the fourth quarter of 2008-09.

The bank projected a ‘realistic’ growth rate of between 5.5 and 6.5 per cent for 2009-10 for Asia’s third-largest economy, after Japan and China.

‘This is a crucial time to support India,’ Roberto Zagha, World Bank country director for India, said in a statement.


‘While the worst of the crisis seems to be behind us, doubts linger about the strength of the comeback, partly because the strength of the global recovery is uncertain.

Today’s support will help maintain credit growth and continued infrastructure investments,’ he said.


Zagha said supporting infrastructure development was crucial to ‘lay the foundations for stronger future growth.’ The World Bank said it had extended a $2 billion loan to support the banking sector, in response to a request from the Indian government to support stimulus measures to counter the worst global downturn in six decades.

‘This will help maintain the confidence of the public in the banking sector, prevent shortages of capital from leading to a slowdown in credit growth, and provide a capital buffer to public sector banks to absorb the possible increase in non-performing assets resulting from the global financial crisis and its impact on India’s economy,’ it said.

The loan is for 30 years and includes a five-year grace period in which India is exempt from repayments.


A 28-year loan of $1.195 billion was aimed at increasing the availability of long-term financing for the India Infrastructure Finance Company to provide public-private financing of infrastructure projects.

The ‘pipeline’ of projects under consideration ‘includes selected power, roads, and ports projects,’ it said.


A loan of $1 billion, maturing in nearly 30 years, would support the Fifth Power System Development Project aimed at strengthening India’s electricity transmission system.

The three loans will be provided by the International Bank for Reconstruction and Development (IBRD), the bank’s institution that aims to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable development.

A $150 million, 35-year credit, was granted by the bank’s International Development Association, which helps the poorest country by providing interest-free loans and grants.—AFP

\

 

[RiazHaq]

There is nothing more basic in terms of human necessities than the adequate availability of roti, kapra aur makaan. Going beyond these bare essentials of food, clothing and housing, one can add sanitation, health care and education.

Credible published data from reliable international agencies indicates that PAKISTAN IS AHEAD OF INDIA IN FIVE OF THE SIX INDICATORS. In education, however, Pakistan is marginally behind India, which itself suffers from low levels of literacy and wide gender gap resulting in very poor showing on the UNDP HDI this year, and in prior years. In fact, India dropped six places on the world rankings from a low of 128 to an even lower 134. Unfortunately, Pakistan has also slipped three ranks on the list, down from 138 to 141, mainly due to its deficit in literacy and gender discrimination.

Read more at Haq's Musings: Food, Clothing and Shelter in India and Pakistan

 

[MilesTogo]

This is great! I had the wrong impression. Indians buckle up. We need to go faster.

There is nothing more basic in terms of human necessities than the adequate availability of roti, kapra aur makaan. Going beyond these bare essentials of food, clothing and housing, one can add sanitation, health care and education.

Credible published data from reliable international agencies indicates that PAKISTAN IS AHEAD OF INDIA IN FIVE OF THE SIX INDICATORS. In education, however, Pakistan is marginally behind India, which itself suffers from low levels of literacy and wide gender gap resulting in very poor showing on the UNDP HDI this year, and in prior years. In fact, India dropped six places on the world rankings from a low of 128 to an even lower 134. Unfortunately, Pakistan has also slipped three ranks on the list, down from 138 to 141, mainly due to its deficit in literacy and gender discrimination.

Read more at Haq's Musings: Food, Clothing and Shelter in India and Pakistan

 

[lockh33d]

India is fail at everything lol. Economy, military and global influence wise.

 

[Iggy]

India is fail at everything lol. Economy, military and global influence wise.

Can understand your frustration buddy..Keep up the good work of your trolling..with in few days your name will also ended up in Hall of Shame

 

[lockh33d]

Can understand your frustration buddy..Keep up the good work of your trolling..with in few days your name will also ended up in Hall of Shame

And I'll come back in another manner

 

[Iggy]

And I'll come back in another manner

So you already tried it huh ??

 

[lockh33d]

So you already tried it huh ??

I'm thinking of trying

 

[EjazR]

India, Nepal sign new treaty

Kathmandu, Oct 27 (PTI) India and Nepal today signed a new treaty making it easier for the Nepalese manufactured products to enter the Indian market duty-free.

Besides, the two countries signed the agreement to control unauthorised trade.

Under the new treaty, which replaces the 1996 agreement, the validity of the trade pact between the two neighbouring countries has been increased from 5 to 7 years, making the business regime stable.

Under the bilateral arrangement, the Nepalese manufactured products are allowed to enter India free of basic customs duty. However, India does not expect the same treatment from the neighbouring country.

The agreement was signed here by India's Commerce and Industry Minister Anand Sharma and Nepal's Minister of Commerce and Supplies Rajendra Mahto.

 

[shravan]

Saudi-India ties enter new era

RIYADH: Both Saudi and Indian businessmen will now get long-term multiple entry visas to visit each other’s country — this was one of the major decisions taken at the 8th meeting of the Indo-Saudi Joint Commission which concluded at the Royal Conference Palace here on Saturday.

Commerce and Industry Minister Abdullah Zainal Alireza and Indian Finance Minister Pranab Mukherjee led the discussions on behalf of the Saudi and Indian teams respectively. Others who attended the meeting were M.O.H. Farook, Indian ambassador, Rajeev Shahare, deputy chief of the mission, and Faisal Al-Trad, Saudi ambassador in New Delhi.

The new scheme would facilitate frequent business visits from both sides and enhance bilateral economic and commercial exchanges, a spokesman from the Indian team said.

Other developments included an understanding for cooperation between the two countries in customs, oil, gas, minerals, science and technology. New areas of cooperation were also introduced for the first time in engineering, agriculture and higher education.

Both sides also decided to set up a monitoring-review mechanism on the progress of the implementation of the agreed recommendations. The commission also addressed the concerns of both sides regarding labor issues and community-welfare matters.

Delivering his opening remarks at the meeting, Alireza said bilateral relations between the Kingdom and India would reach new heights in economy and trade.

“The two countries share common goals toward the development of economy and trade, as a result we could see remarkable developments in bilateral relations in the relevant sectors,” he said. He also recalled that the visit of Custodian of the Two Holy Mosques King Abdullah, the subsequent Delhi Declaration and the proposed visit of Indian Premier Manmohan Singh would enhance existing cooperation.

He said the volume of two-way trade stood at $103 billion. Replying to the Saudi minister, Mukherjee praised the endeavors of the Saudi government in supporting India at all international forums including the G20.

“We share identical views on the themes of the G20, including the ongoing deliberations on climate change, and look forward to continued cooperation from Saudi Arabia,” he added. The Indian minister noted that India is currently the Kingdom’s fifth largest trading partner.

During the day, Mukherjee also met Custodian of the Two Holy Mosques King Abdullah and discussed important bilateral, regional and international issues. He also held separate discussions with his counterpart Dr. Ibrahim Al-Assaf and Foreign Minister Prince Saud Al-Faisal on matters of mutual interest. In a separate event, Mukherjee inaugurated the India Textiles Buyers and Sellers Meet with Alireza at the Riyadh Palace Hotel. The show, which was attended by more than 20 Indian companies, was organized by the Synthetic Rayon and Textile Export Promotion Council (SRTEPC).

Describing the meeting of the Indo-Saudi Joint Commission as successful, Mukherjee, said that the two parties had a wide range of discussions starting from the hydrocarbon sector to new areas in science, technology and information technology.