สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 16 ตุลาคม 2555

FDI in retail will bring investment of 700 million USD

Defending FDI in retail and other sectors, Union Minister V Narayanasamy today said the country was expecting an investment of about 700 million USD besides provision of huge employment and creation of agro- infrastructure.

Although TMC leader and West Bengal Chief Minister Mamata Banerjee withdrew support from the UPA government on the issue, the decision of allowing FDI in retail sector would provide employment to 20,000,000 people in three years, Union Minister said.

(Sources: Economic Times, Indiatimes, Press Trust of India, Moneycontrol, Zeenews)

Diesel price rise pushes wholesale inflation to 10-month high in Sep

The index of industrial production grew 2.7 % in August after two months of decline. The government’s diesel price raise has pushed wholesale price index-based inflation to a 10-month high of 7.81 % in September, from 7.55 % in the previous month, strengthening a feeling that the Reserve Bank might not change policy rates in its monetary policy review later this month.

Economists said they believed inflation would rise to eight per cent in the next three months.

(Sources: Business Standard, IBNLive, Economic Times, Indiatimes, Livemint, Moneycontrol)

Agra-Lucknow expressway to bring industrial hubs closer

Proposed Agra-Lucknow Expressway to be built at an estimated cost of $ 1.97 billion under public-private partnership model

Finalised alignment proposes a 270-km long, six-lane expressway, which might be expanded to eight lanes. Expressway to connect four industrial hubs — Glass City in Ferozabad; Pragati Nagar near Karhal and Saifai; Khushboo City near Kannauj; and Malihabad, involved in the food processing and packaging and the marketing industries

Locations of the growth centres are tentative and changes could be made on the basis of a detailed project report. Expressway to cut travel time between Lucknow and Agra to three hours from current seven hours

(Sources: Business Standard, Times of India, Indiatimes, Hindu Business Line, the Statesman)

Mega investment plan for Uttarakhand CM's constituency

It’s now official that a new industrial estate encompassing an area of 1,700 acres would be set up at Sitarganj in the Kumaon region, which also happens to be the Assembly constituency of Uttarakhand Chief Minister Vijay Bahuguna.

The government is to introduce a mega investment plan to attract industry players. Following the expiry of the hill-based tax incentives that industrialization sluggish in Uttarakhand, the state government is planning to provide some sops to make industrial activity at Sitarganj lucrative.

(Sources: Reuters India, Economic Times, Indiatimes, Livemint, Moneycontrol, Business Time)

Ford India plans to more than double sales network by 2015

Ford Motor Co's India unit plans to expand its sales network to 500 outlets by 2015, from 230 now, it said in a statement on Monday.

Ford, which is spending $1 billion on building a second factory in India, will have the capacity to build 450,000 cars and 600,000 engines in the country by 2015.

(Sources: Reuters India, Economic Times, Indiatimes, Livemint, Moneycontrol, Business Time)

Tyre makers to favour rubber imports as local prices soar

Natural rubber imports could hit a record 22.5 % of country's total consumption in 2012-13 as a widening gap between local and overseas prices prompts tyre makers to bring in imports even during the peak domestic production season.

This year, despite importing 23.5 % more rubber in the first half, tyre makers are signing new import deals as buying locally is still expensive after farmers held back supplies hoping prices would rise in the future, industry officials said.

India imports rubber from Malaysia, Thailand and Indonesia.

(Sources: Reuters India, Economic Times, Indiatimes, Livemint, Moneycontrol, Business Time)

Economic Section

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