The HBS Guy
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Indian Economy-News & Updates
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The HBS Guy
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India solar power costs could fall by 40% by 2015
http://www.moneycontrol.com/news/ec...tml?utm_source=twitterfeed&utm_medium=twitter
---------- Post added at 12:00 PM ---------- Previous post was at 11:59 AM ----------
India Aims to Double Exports to $500 bln by 2014
GoIndoCal News Business » Economy -India Aims to Double Exports to $500 bln by 2014
http://www.moneycontrol.com/news/ec...tml?utm_source=twitterfeed&utm_medium=twitter
---------- Post added at 12:00 PM ---------- Previous post was at 11:59 AM ----------
India Aims to Double Exports to $500 bln by 2014
GoIndoCal News Business » Economy -India Aims to Double Exports to $500 bln by 2014
Agent_47
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India's rise will reshape global system, says US
WASHINGTON: Noting that "India's rise will reshape the international system" a top US official has said that Washington seeks a 21st century Asia-Pacific in which India, the US and China all enjoy good relations.
"To paraphrase India's National Security Advisor, I have no doubt that Asia and the world are big enough for the three of us - if we want them to be," Deputy Secretary William Burns said outlining US Strategy for the Asia-Pacific Friday.
"Soon to be the world's most populous country, and already the world's biggest democracy, with an economy likely to be the world's third largest within two decades, India's rise will reshape the international system," he said at World Affairs Councils of America National Conference here.
Noting that President Barack Obama said that India will be "one of the defining partnerships of the 21st century," he said: "We also want it to be one of the defining partnerships in the Asia-Pacific."
"India is already a powerful economic and cultural presence in East Asia, and has built a vast network of economic agreements and security arrangements with partners like Japan, South Korea, Australia, Singapore, Indonesia, and Vietnam," Burns said.
India's outreach is growing toward a comprehensive vision for the East Asia region-a "Look East" policy that is becoming an "Act East" policy, he said.
"That's why, last year, our two countries launched a strategic dialogue on the Asia-Pacific to ensure that the world's two largest democracies pursue strategies that reinforce one another," Burns said.
Hoping that India will join the US in working to strengthen Asia's many regional institutions, he said: "An architecture of free trade and investment that connects India to Southeast and East Asia will have a profound impact on global trade and economic growth."
"And let me explicitly state that the 21st century Asia-Pacific we seek is one in which India, the United States, and China all enjoy good relations," Burns said.
"Whatever our differences, we know that, as this century advances, fewer and fewer global problems will be solvable without constructive cooperation amongst our three great countries."
The US, he said, was also reaching out to build new partnerships across the region "to build networks of cooperation that will create a peaceful and prosperous Asia-Pacific."
India's rise will reshape global system, says US - The Economic Times
WASHINGTON: Noting that "India's rise will reshape the international system" a top US official has said that Washington seeks a 21st century Asia-Pacific in which India, the US and China all enjoy good relations.
"To paraphrase India's National Security Advisor, I have no doubt that Asia and the world are big enough for the three of us - if we want them to be," Deputy Secretary William Burns said outlining US Strategy for the Asia-Pacific Friday.
"Soon to be the world's most populous country, and already the world's biggest democracy, with an economy likely to be the world's third largest within two decades, India's rise will reshape the international system," he said at World Affairs Councils of America National Conference here.
Noting that President Barack Obama said that India will be "one of the defining partnerships of the 21st century," he said: "We also want it to be one of the defining partnerships in the Asia-Pacific."
"India is already a powerful economic and cultural presence in East Asia, and has built a vast network of economic agreements and security arrangements with partners like Japan, South Korea, Australia, Singapore, Indonesia, and Vietnam," Burns said.
India's outreach is growing toward a comprehensive vision for the East Asia region-a "Look East" policy that is becoming an "Act East" policy, he said.
"That's why, last year, our two countries launched a strategic dialogue on the Asia-Pacific to ensure that the world's two largest democracies pursue strategies that reinforce one another," Burns said.
Hoping that India will join the US in working to strengthen Asia's many regional institutions, he said: "An architecture of free trade and investment that connects India to Southeast and East Asia will have a profound impact on global trade and economic growth."
"And let me explicitly state that the 21st century Asia-Pacific we seek is one in which India, the United States, and China all enjoy good relations," Burns said.
"Whatever our differences, we know that, as this century advances, fewer and fewer global problems will be solvable without constructive cooperation amongst our three great countries."
The US, he said, was also reaching out to build new partnerships across the region "to build networks of cooperation that will create a peaceful and prosperous Asia-Pacific."
India's rise will reshape global system, says US - The Economic Times
as a friendly advice,education is most important for india now and future.
Fiscal Monitor Update
Date from IMF
Strengthening Fiscal Credibility
________________________________________
Table 1. Fiscal Indicators, 2008-12
(Percent of GDP)
________________________________________
Est. Projections Difference from November 2010 Fiscal Monitor
________________________________________ ________________________________________
2008 2009 2010 2011 2012 2010 2011 2012
________________________________________ ________________________________________
Overall Fiscal Balance
Advanced economies -3.6 -8.8 -7.9 -7.1 -5.2 0.3 -0.4 -0.1
United States -6.5 -12.7 -10.6 -10.8 -7.2 0.5 -1.1 -0.5
Euro Area -2.1 -6.4 -6.4 -4.6 -4.0 0.3 0.4 0.3
France -3.3 -7.6 -7.7 -6.0 -4.9 0.3 0.0 -0.2
Germany 0.0 -3.0 -3.5 -2.6 -2.3 1.0 1.1 0.7
Italy -2.7 -5.2 -5.0 -4.3 -3.5 0.1 0.0 0.1
Spain -4.1 -11.1 -9.3 -6.6 -6.0 0.0 0.4 0.3
Japan -4.1 -10.1 -9.4 -9.1 -8.0 0.2 -0.2 0.1
United Kingdom -4.9 -10.3 -10.3 -8.1 -6.1 -0.1 0.0 0.3
Canada 0.1 -5.5 -5.9 -4.7 -3.3 -1.0 -1.8 -1.2
Emerging economies -0.7 -4.8 -4.1 -3.2 -2.8 0.1 0.0 0.0
China -0.4 -3.1 -3.1 -2.1 -1.5 -0.2 -0.2 -0.2
India -7.9 -10.2 -9.8 -9.2 -8.4 -0.2 -0.4 0.1
Russia 4.3 -6.2 -4.2 -2.9 -3.0 0.6 0.7 -0.1
Brazil1 -1.4 -3.1 -2.6 -3.1 -3.2 -0.9 -1.9 -1.5
Mexico -1.4 -4.8 -3.5 -2.4 -2.5 0.2 0.7 0.2
South Africa -0.5 -5.3 -5.8 -5.3 -4.4 0.1 -0.6 -1.3
G-20 advanced -4.2 -9.4 -8.3 -7.8 -5.6 0.3 -0.5 -0.2
G-20 emerging -0.4 -4.8 -3.9 -3.2 -2.8 0.1 0.0 -0.1
General Government Cyclically Adjusted Balance (Percent of Potential GDP)
Advanced economies -3.3 -5.5 -5.9 -5.6 -4.1 0.2 -0.4 -0.1
United States2 -4.6 -6.7 -7.5 -8.2 -5.4 0.4 -1.1 -0.5
Euro Area -2.8 -4.6 -4.7 -3.5 -3.1 0.1 0.3 0.2
France -3.2 -5.6 -6.0 -4.6 -3.8 0.3 0.0 -0.1
Germany -1.0 -1.0 -2.8 -2.3 -2.2 0.5 0.6 0.3
Italy -2.4 -3.3 -3.4 -2.8 -2.3 0.1 0.1 0.3
Spain -5.2 -9.7 -7.5 -5.0 -5.0 0.0 0.3 0.3
Japan -3.6 -6.8 -7.6 -7.6 -7.0 -0.1 -0.4 -0.1
United Kingdom -5.6 -8.3 -8.1 -6.3 -4.5 -0.1 -0.1 0.2
Canada 0.0 -3.2 -4.3 -3.4 -2.5 -0.9 -1.5 -0.9
Emerging economies -2.4 -4.6 -4.3 -3.6 -3.3 -0.2 -0.2 -0.3
China -0.8 -3.4 -3.4 -2.3 -1.5 -0.2 -0.1 0.0
India -10.0 -10.9 -10.3 -9.7 -8.9 -0.8 -0.6 -0.6
Russia 3.0 -3.4 -2.4 -1.9 -2.4 0.5 0.6 -0.1
Brazil1 -2.1 -2.0 -2.8 -3.3 -3.3 -1.0 -2.1 -1.7
Mexico -1.0 -2.7 -2.7 -1.9 -2.1 0.1 0.4 0.0
South Africa -2.1 -4.9 -5.1 -4.5 -3.9 0.1 -0.6 -1.2
G-20 advanced -3.4 -5.5 -6.1 -6.1 -4.4 0.2 -0.6 -0.2
G-20 emerging -2.3 -4.5 -4.3 -3.6 -3.2 -0.3 -0.6 -0.8
General Government Gross Debt
Advanced economies 79.2 91.4 96.5 101.0 103.6 -0.9 -1.0 -0.8
United States 71.2 84.6 91.2 97.9 102.0 -1.6 -1.4 -1.0
Euro Area 69.6 78.9 84.3 87.1 88.7 0.4 0.2 -0.1
France 67.5 78.1 84.0 87.4 89.4 -0.2 -0.2 -0.1
Germany 66.3 73.5 76.6 77.1 77.1 1.2 0.6 0.1
Italy 106.3 116.0 118.7 120.1 120.1 0.3 0.4 0.4
Spain 39.8 53.2 63.1 68.4 72.6 -0.4 -1.8 -2.4
Japan 195.0 217.4 220.7 227.5 232.8 -5.1 -6.6 -5.8
United Kingdom 52.0 68.3 77.2 82.1 84.5 0.6 0.2 -0.6
Canada 71.3 82.5 83.9 85.4 84.8 2.2 4.9 6.0
Emerging economies 35.4 37.2 36.9 36.8 36.4 -0.5 -0.5 -0.5
China 17.0 17.7 18.4 18.1 17.6 -0.8 -0.7 -0.5
India 74.0 77.8 75.7 75.2 74.8 0.6 1.1 1.2
Russia 7.8 10.9 10.4 10.8 12.1 -0.6 -2.0 -2.4
Brazil 70.7 67.9 65.7 67.5 66.9 -1.1 0.9 0.5
Mexico 43.0 44.6 44.5 45.0 43.9 -0.5 -0.7 -1.0
South Africa 27.3 31.5 35.9 39.5 41.6 0.9 1.4 1.9
G-20 advanced 84.5 97.6 102.7 107.4 110.2 -1.1 -1.2 -1.0
G-20 emerging 35.2 36.4 35.6 35.3 34.9 -0.7 -0.7 -0.8
________________________________________
---------- Post added at 02:27 AM ---------- Previous post was at 02:24 AM ----------
Since the global system is hardly to be reshaped,india is hardly to rise.
---------- Post added at 02:30 AM ---------- Previous post was at 02:27 AM ----------
oh,this is the "first".
Date from IMF
Strengthening Fiscal Credibility
________________________________________
Table 1. Fiscal Indicators, 2008-12
(Percent of GDP)
________________________________________
Est. Projections Difference from November 2010 Fiscal Monitor
________________________________________ ________________________________________
2008 2009 2010 2011 2012 2010 2011 2012
________________________________________ ________________________________________
Overall Fiscal Balance
Advanced economies -3.6 -8.8 -7.9 -7.1 -5.2 0.3 -0.4 -0.1
United States -6.5 -12.7 -10.6 -10.8 -7.2 0.5 -1.1 -0.5
Euro Area -2.1 -6.4 -6.4 -4.6 -4.0 0.3 0.4 0.3
France -3.3 -7.6 -7.7 -6.0 -4.9 0.3 0.0 -0.2
Germany 0.0 -3.0 -3.5 -2.6 -2.3 1.0 1.1 0.7
Italy -2.7 -5.2 -5.0 -4.3 -3.5 0.1 0.0 0.1
Spain -4.1 -11.1 -9.3 -6.6 -6.0 0.0 0.4 0.3
Japan -4.1 -10.1 -9.4 -9.1 -8.0 0.2 -0.2 0.1
United Kingdom -4.9 -10.3 -10.3 -8.1 -6.1 -0.1 0.0 0.3
Canada 0.1 -5.5 -5.9 -4.7 -3.3 -1.0 -1.8 -1.2
Emerging economies -0.7 -4.8 -4.1 -3.2 -2.8 0.1 0.0 0.0
China -0.4 -3.1 -3.1 -2.1 -1.5 -0.2 -0.2 -0.2
India -7.9 -10.2 -9.8 -9.2 -8.4 -0.2 -0.4 0.1
Russia 4.3 -6.2 -4.2 -2.9 -3.0 0.6 0.7 -0.1
Brazil1 -1.4 -3.1 -2.6 -3.1 -3.2 -0.9 -1.9 -1.5
Mexico -1.4 -4.8 -3.5 -2.4 -2.5 0.2 0.7 0.2
South Africa -0.5 -5.3 -5.8 -5.3 -4.4 0.1 -0.6 -1.3
G-20 advanced -4.2 -9.4 -8.3 -7.8 -5.6 0.3 -0.5 -0.2
G-20 emerging -0.4 -4.8 -3.9 -3.2 -2.8 0.1 0.0 -0.1
General Government Cyclically Adjusted Balance (Percent of Potential GDP)
Advanced economies -3.3 -5.5 -5.9 -5.6 -4.1 0.2 -0.4 -0.1
United States2 -4.6 -6.7 -7.5 -8.2 -5.4 0.4 -1.1 -0.5
Euro Area -2.8 -4.6 -4.7 -3.5 -3.1 0.1 0.3 0.2
France -3.2 -5.6 -6.0 -4.6 -3.8 0.3 0.0 -0.1
Germany -1.0 -1.0 -2.8 -2.3 -2.2 0.5 0.6 0.3
Italy -2.4 -3.3 -3.4 -2.8 -2.3 0.1 0.1 0.3
Spain -5.2 -9.7 -7.5 -5.0 -5.0 0.0 0.3 0.3
Japan -3.6 -6.8 -7.6 -7.6 -7.0 -0.1 -0.4 -0.1
United Kingdom -5.6 -8.3 -8.1 -6.3 -4.5 -0.1 -0.1 0.2
Canada 0.0 -3.2 -4.3 -3.4 -2.5 -0.9 -1.5 -0.9
Emerging economies -2.4 -4.6 -4.3 -3.6 -3.3 -0.2 -0.2 -0.3
China -0.8 -3.4 -3.4 -2.3 -1.5 -0.2 -0.1 0.0
India -10.0 -10.9 -10.3 -9.7 -8.9 -0.8 -0.6 -0.6
Russia 3.0 -3.4 -2.4 -1.9 -2.4 0.5 0.6 -0.1
Brazil1 -2.1 -2.0 -2.8 -3.3 -3.3 -1.0 -2.1 -1.7
Mexico -1.0 -2.7 -2.7 -1.9 -2.1 0.1 0.4 0.0
South Africa -2.1 -4.9 -5.1 -4.5 -3.9 0.1 -0.6 -1.2
G-20 advanced -3.4 -5.5 -6.1 -6.1 -4.4 0.2 -0.6 -0.2
G-20 emerging -2.3 -4.5 -4.3 -3.6 -3.2 -0.3 -0.6 -0.8
General Government Gross Debt
Advanced economies 79.2 91.4 96.5 101.0 103.6 -0.9 -1.0 -0.8
United States 71.2 84.6 91.2 97.9 102.0 -1.6 -1.4 -1.0
Euro Area 69.6 78.9 84.3 87.1 88.7 0.4 0.2 -0.1
France 67.5 78.1 84.0 87.4 89.4 -0.2 -0.2 -0.1
Germany 66.3 73.5 76.6 77.1 77.1 1.2 0.6 0.1
Italy 106.3 116.0 118.7 120.1 120.1 0.3 0.4 0.4
Spain 39.8 53.2 63.1 68.4 72.6 -0.4 -1.8 -2.4
Japan 195.0 217.4 220.7 227.5 232.8 -5.1 -6.6 -5.8
United Kingdom 52.0 68.3 77.2 82.1 84.5 0.6 0.2 -0.6
Canada 71.3 82.5 83.9 85.4 84.8 2.2 4.9 6.0
Emerging economies 35.4 37.2 36.9 36.8 36.4 -0.5 -0.5 -0.5
China 17.0 17.7 18.4 18.1 17.6 -0.8 -0.7 -0.5
India 74.0 77.8 75.7 75.2 74.8 0.6 1.1 1.2
Russia 7.8 10.9 10.4 10.8 12.1 -0.6 -2.0 -2.4
Brazil 70.7 67.9 65.7 67.5 66.9 -1.1 0.9 0.5
Mexico 43.0 44.6 44.5 45.0 43.9 -0.5 -0.7 -1.0
South Africa 27.3 31.5 35.9 39.5 41.6 0.9 1.4 1.9
G-20 advanced 84.5 97.6 102.7 107.4 110.2 -1.1 -1.2 -1.0
G-20 emerging 35.2 36.4 35.6 35.3 34.9 -0.7 -0.7 -0.8
________________________________________
---------- Post added at 02:27 AM ---------- Previous post was at 02:24 AM ----------
Since the global system is hardly to be reshaped,india is hardly to rise.
---------- Post added at 02:30 AM ---------- Previous post was at 02:27 AM ----------
oh,this is the "first".
2020,so india have enough time to plan-plan-and-plan.
2030 is so far away that india can wish-wish-and-wish.
Foreigners buy these.
Night_Raven
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Haha ... 5 posts ..and your ignorance is on full display !!
Many of my friends have bought LED TVs , last time I checked , they were Indians.
Stick to your closeted mind and don't argue just for the sake of it & DON'T DERAIL THE THREAD ....
@ Topic
TVS plans to set up unit in Uluberia, West Bengal - The Economic Times
Road Ministry confident of awarding over 7,000 km road projects - The Economic Times
lemurian
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Rate-hike strategy to fight inflation may backfire: Joseph Stiglitz - The Economic Times
Rate-hike strategy
Your anti-austerity stand has often been criticised as being too short-sighted given the current debt situation in developed countries. What is your response to that?
The answer depends on how the money is spent. If the money is spent on education, technology and infrastructure then the nations' balance sheet looks stronger and they're able to payback what they borrow. This may not be true for Greece, but in US the interest rates are so low that it makes sense.
So we should cut back on wasteful spending like war and increase spending on investment. If we don't invest, we'll go down the Greece route where the economy grows weaker and the revenues go down and we're stuck in a downward spiral.
Do you think the Indian central bank should continue with a tight monetary policy to tackle inflation?
The major reason India is tightening is inflation, but the deeper question is whether raising interest rates is a very cost-effective way of dealing with inflation. We know the inflation-targeting framework has been totally discredited by the crisis.
So one has to be very careful about the use of inflation targeting as the basis of monetary policy. Turkey, for instance, lowered interest rates and tightened reserve requirements to curb inflation. This provided more flexibility, because if it looked like the economy was getting weaker, reserve requirement could be eased to increase lending and it worked better than controlling interest rates. India should also use reserve requirements or other instruments to tackle inflation[/B].
India may impose curbs on imports from China to protect its current account deficit. Are protectionist policies a good idea?
This is certainly against the spirit of the WTO. China has used exchange rate policy very effectively in promoting exports whereas India hasn't been able to do that. India's central bank should consider using the exchange rate policy as a broader way of responding to the flood of imports. I think the imposition of tariffs on Chinese imports would threaten a trade war. Exchange rate policy will be better as it has same broad based effects and will help exporters as well.
What is your assessment of the Indian financial sector? You once said it's as bad as the American system. Could you elaborate?
What I meant was that India's financial sector has been asking for the same kind of deregulation as in the US and it would be a mistake to give in to that. India has fortunately had more regulation and that protected you from some of the excesses. If you went down the same deregulatory route as America you're bound to end up in a similar mess.
Rate-hike strategy
Your anti-austerity stand has often been criticised as being too short-sighted given the current debt situation in developed countries. What is your response to that?
The answer depends on how the money is spent. If the money is spent on education, technology and infrastructure then the nations' balance sheet looks stronger and they're able to payback what they borrow. This may not be true for Greece, but in US the interest rates are so low that it makes sense.
So we should cut back on wasteful spending like war and increase spending on investment. If we don't invest, we'll go down the Greece route where the economy grows weaker and the revenues go down and we're stuck in a downward spiral.
Do you think the Indian central bank should continue with a tight monetary policy to tackle inflation?
The major reason India is tightening is inflation, but the deeper question is whether raising interest rates is a very cost-effective way of dealing with inflation. We know the inflation-targeting framework has been totally discredited by the crisis.
So one has to be very careful about the use of inflation targeting as the basis of monetary policy. Turkey, for instance, lowered interest rates and tightened reserve requirements to curb inflation. This provided more flexibility, because if it looked like the economy was getting weaker, reserve requirement could be eased to increase lending and it worked better than controlling interest rates. India should also use reserve requirements or other instruments to tackle inflation[/B].
India may impose curbs on imports from China to protect its current account deficit. Are protectionist policies a good idea?
This is certainly against the spirit of the WTO. China has used exchange rate policy very effectively in promoting exports whereas India hasn't been able to do that. India's central bank should consider using the exchange rate policy as a broader way of responding to the flood of imports. I think the imposition of tariffs on Chinese imports would threaten a trade war. Exchange rate policy will be better as it has same broad based effects and will help exporters as well.
What is your assessment of the Indian financial sector? You once said it's as bad as the American system. Could you elaborate?
What I meant was that India's financial sector has been asking for the same kind of deregulation as in the US and it would be a mistake to give in to that. India has fortunately had more regulation and that protected you from some of the excesses. If you went down the same deregulatory route as America you're bound to end up in a similar mess.
Tangent
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Agreed...
but seems like U joined to post about Indian economics....and would soon join the "India phobia" chinese brigade...
India must be doing something good...as it is making chinese insecure and hurting them..
Gone are the days when we were tied to pakistan....now the master of pakistan has to the "bash India" programm.
India Inflation is out of control
India’s Food Inflation Quickens to 12.21%, a Nine-Month High - Businessweek
---------- Post added at 05:20 PM ---------- Previous post was at 05:19 PM ----------
India Inflation is out of control
AFP: India says food inflation 'dangerously' high
India’s Food Inflation Quickens to 12.21%, a Nine-Month High - Businessweek
---------- Post added at 05:20 PM ---------- Previous post was at 05:19 PM ----------
India Inflation is out of control
AFP: India says food inflation 'dangerously' high
IndoCarib
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IndoCarib
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IndoCarib
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